Hello, everybody. My name is Jörg Buchheim. I'm the CEO of Kongsberg Automotive, and I would like to invite you and welcome you for today's Capital Markets Day. I'm glad to have, despite the corona restrictions here as well, a well-known audience here in Oslo. Welcome in particular here, the audience, at the location. I'm glad to present today following topics. I would like to introduce a little bit of our new vision and mission, and then I would like to share an update on the current automotive status and where we are positioned as of today.
Leading then over our market, or major, market plan here to our Shift Gear core impact areas, towards the financial targets, and then via a roadmap to our key takeaways for our future of Kongsberg Automotive looking forward ahead. As mentioned, my name is Jörg Buchheim. I'm the CEO of Kongsberg Automotive. I'm located in Zurich. I joined in May this year, and I started at Kongsberg with a lot of passion and into immediate actions in a turbulent market. Let me emphasize very clearly I'm excited to be here and having this job, and we will move here a lot together. Together means as well with the top management team, Frank Heffter, who wanted to be here, but I have to excuse him.
But today, he was short-term sick, one of the consequences of the cold weather, lost his voice. He gives his best regards to the audience. With me here is Dr. Christian Amsel, joining from August as a CTO, moving our innovations along the roadmap. Yeah, let me start with the first topic, introduction of our new tagline, vision and mission. We want to lead this traditional company towards sustainable and attractive results by clear vision and missions, which I'm glad to share with you today. Expressed by our vision statement, we want to play an active driver within the global transition to provide sustainable mobility, and we are going to express this in our tagline. Mobility solutions for the future is our new slogan, heading towards the 2025 targets. Kongsberg Automotive as a driver for sustainable mobility.
It's important here, our path to becoming a true global leader. We will put engineering, sustainability, and innovation into practice, and we are going to execute, and I will refer to that later on. We seek to constantly improve our products, leverage our experience in cutting-edge engineering, and widen our scope to find new solutions and technologies that make mobility safer and cleaner. Our ambition is to be second to none in all what we are doing. This is how we unlock growth potential and create substantial value for our customers, our employees, and our shareholders. Very important, as a global team, we take responsibility as a strong, unified team, and we are committed to making a difference by developing our skill set and delivering excellent products and shareholder value. With this, I would like to go immediately to our current status.
As I've mentioned when I started, we entered into a turbulent time. Our global footprint today, just to share, we are with 40 locations close to our customers, and we employing 11,000 people worldwide within 19 countries. We are a really global player, which is a company which is at every location the customer needs us in a very connected way. Looking into our segments, we are a company of today with acting in powertrain and chassis, our so-called P&C area. We have the interior division, and we have our specialty products, which is very much related to couplings, fluid transfer systems. We are located in Zurich, but we are stock listed and originally from Norway, here in Oslo, and Kongsberg and Raufoss.
Certainly, this is interesting, and interesting to know, one out of five vehicles contains our products. Looking a little bit more into our segments, the Powertrain and Chassis segments concentrating traditionally on driver control and driveline products, with a revenue roughly of EUR 420 million in 2021. We're looking into the specialty products with Fluid Transfer Systems, air coupling system, and operator control system, which is covering different applications of pedals, of displays, and this is more the off-highway related product segment with EUR 400 million revenue. Then we have the interior division, which is consisted out of seat comfort system and our light duty cable division.
As announced, we signed a sale agreement with Lear on the ICS, on the comfort system, and with Suprajit on the light duty cable on 28th of October. With this, we started our product portfolio transformation, where I will going to elaborate a little bit later. The first strategic move here, coping with vertical integration trends and focusing on our new product segments. Our new product segments with this divestments, prior the closing certainly, towards end of Q1 2022, we moving our focus more and clearly on the commercial vehicle and off-road business.
As you can see, we reducing here our revenue short term to a level of EUR 800 million, so 30% reduction, but we taking a 100% dedicated, passenger car dedicated business out, and with this we moving strongly into the new focus of commercial vehicles and off-road post-divestments. That's how we are going to structure these new segments. The passenger car products are mostly delivered by driveline. This is a so-called light vehicle product segment, so related to passenger car cars. We have the commercial vehicles, which is mostly on-highway and fluids, which focusing on commercial vehicles, including couplings. We have the off-highway division with our traditional pedal, APV, et cetera, focus, which largely focusing together with couplings on off-road and additional activities.
With this focus, we actually reducing, at least for a while, the dependency on the high volatile and turbulent passenger car market. A market where the transformation is still not finally described, a transformation which require size and high investment for the time being. We, with this change, we are focusing much more on the predictable and plannable and stable market. With clearly higher profit margins, where we predevelopments, where predevelopments are jointly financed, longer lifetimes providing higher returns, and where relationship counts. A much more stable segment, a much more profitable segment, and not crisis affected like the typical passenger car vehicle. This is going to be Kongsberg focus, which we will elaborate later on more.
As I've mentioned, we have navigated so far Kongsberg Automotive during a time which the automotive industry never have experienced so far before. Extreme shortages within the supply chain, majorly semiconductors, inflation, and finally now the material cost increases, has generated huge costs for the supplier industry, and in particular in the passenger car area. This is going to continue in 2022, and we countered that right from the beginning, because we started to launch a Shift Gear program with a performance improvement, and we generated countermeasures out of our Shift Gear performance improvement program, executed by our employees and dedicated teams. We could counter those impacts successfully, and we delivered so far. How we did that, as described here, customer negotiations in a corporate spirit, operational excellence, and supplier negotiations, has at least in a combined way limited this impact.
This has brought us to very good results. In this extreme challenging environment, we delivered here, as promised, the EUR 800 million, roughly EUR 800 million revenue, an adjusted EBIT of EUR 50 million, a book-to-bill ratio which is above one, and a free cash flow of positive, and, at the divestments, we expecting to receive a net proceeds of EUR 175 million by end of Q1 2022. I'm really proud to present that because it's important to thank here, in this regard as well, the entire Kongsberg Automotive team for their contribution, because delivering these results is not, in this, times, normal. Yeah, a lot of other suppliers struggling here much more. Let me come now to our master plan, our Shift Gear core impact areas.
We are going to focus on three improvement programs, and we have launched that in May 2021, right after my arrival. The Shift Gear program is building up on three pillars. The one is operational excellence and performance, which I mentioned already in 2021, helped us in this year to counter the effect of the, let's say, post-coronavirus crisis. We have the second gear, the second pillar, which is our product transformation program. Last but not least, we would like to be more active in sustainability transformation, which is the ESG field, which becomes more and more important. These programs, launched in May, are going to steer it in Kongsberg with a permanently increasing and dedicated central program management office, and it's going across all business units and with a strong connection and strong support of all business units.
Looking into this master plan a little bit more deeper. We talking about six work packages on the way to our new Kongsberg Automotive, and this should generate and provide us a maximum impact. We talking about in the performance improvement about a strong push program and about our organization, which we are going to adapt towards our new roadmaps. We're looking into the gear two in the product transformation into two ways. One is secure and innovate our product portfolio on a natural growth path. Then we're looking into an accelerated and innovative package which is more related to our specialty products, where we're seeing an extraordinary growth by certain steps which we would like to lay out in a second. The third gear here, the environmental, social, and governance, which becoming a very important role.
Then the second topic is digitalization and automation, which is an area where we still have a lot of opportunities to pull additional value, supporting our roadmap. Overall, this program, this master plan, is the core structure, and with this we're aiming for superior results. Superior results, we define here and determine here by an EBIT margin of above 10% and a winning portfolio focused 75% on commercial vehicles and off-road customers. The niches where your profitabilities are much higher and where we see a strong room for growth and pull. The performance push, and with this, I would like to go into the first pillar, and I elaborated already before that. A strong pillar which helped us already in 2021, and this is consisting out of five core work streams.
We're looking into commercial excellence. This is together with our customers. We're looking into potentials in direct and indirect purchasing, and that's not only cost reductions. These are really smart concepts where we are with our suppliers looking into optimization of supply chains. We're looking certainly in operations, a strong focus area for 2022, and certainly supported by a stringent cash management. The strong performance infrastructure, we're running that with a rigorous drumbeat. We're having a clear focus up to the top management, and everybody is engaged. It's getting into our DNA to become second to none. Focus on short-term improvements. That's certainly what we are using and needing for countering the massive short-term impacts. It's not only a program which is covering short-term effects, it's as well a structural improvement.
As I said before, it's a cultural change. It's a long-term change and a long-term improvement, which is generated by this performance push program as we are heading second to none. Looking into a couple of facts and figures, you see that just to share how this program impacted our results or countered our impacts in terms of crisis. You could see here in 2021, we generated a potential of EUR 55 million, so on measures which we have implemented a savings program. Here you see the difference between the continued business, so the part of the business without the interior business, and then you see the discontinued part, this EUR 50 million here, which is the interior business.
With this program, we're pulling massive improvements in a very dedicated way, which helps us to really counter the market volatility. Coming to the second and going along with the divestment. Right-sizing the organization is our top focus, and we are heading in 2022 to certain kind of restructuring in a very positive way. We're looking for, on one hand, getting our stranded cost after the divestment out and ensuring a very competitive and efficient overhead structure. We would like to go ahead with supporting optimizing process initiative and implementing supporting tools. We are going to adapt the operating model to a strong, dedicated business development focus. You see on the left side, after the divestment, we are an EUR 800 million revenue company as of today.
For sure, this is not where we wanna be in future. With EUR 50 million EBIT and 6% margin and 4% CapEx investment, we are already on the right way towards our 10% EBIT target. Looking into the share of our fields, you see our passenger car area is shrinking, and our commercial vehicle and off-road dedication is increasing. We will foster that by a very strong business development activity and certainly in a very efficient and restructured organization. This business development should certainly focus on highly profitable specialty products in niche market segments with a regional presence. We want to tap fields here, or we want to unlock untapped fields in these different areas.
The sales companies will be optimally staffed considering our targeted growth fields within this honeycomb, plus fine-tuned by regional strategies. A really winning concept, a proven concept of top industry-leading enterprises. On the left side, you see our traditional area, so where we're going to maintain and strengthen strong market positions. In the middle field, you see these are spots where we want to enter in future, so broaden our market access and our application. On the right side, this is in the long term, where we see additional potential markets which are ready as well to get unlocked in the future.
Again, how we're going to do that is to set up regional sales companies in future to really dedicate our resources for a very focused business development and the maximum customer support in order to really become second to none here and supplier of choice of our customer base. A huge field, very exciting and very attractive, which we're now heading through. How to materialize that is that our target is going to be then by lifting up potentials in 2030. I'm really happy to share that with you. We wanna be a highly profitable business company with a 2%-2.5% revenue growth compared to today. Looking into a three-year step, and I don't wanna go now into 2030 because that's still far away.
Looking into the three-year, three years midterm plan, we want to be at a multiple on top line of 1.3-1.5 of today, and we would like to be on an EBIT margin of 9%-10%. Looking then two years later, so in a five years LRP, we talking about a top-line growth of 1.5-1.7 and an adjusted EBIT of 11%-12%. This growth should majorly come out of area which are underdeveloped so far, and you see that on the left side. In Asia, we see a growth potential of 90% towards 2024, and we see in Americas still 50%, while Europe is on 40%.
The takeaway here is this dedication, wherever we are operating, again, we want it to be second to none, and this should help us at the end to unlock the growth potential. Our specialty product business is certainly the major contributor here, not only in terms of revenue growth opportunities, but as well on profitability. Third topic, the growth majorly should come in particular in these areas out of the Asia-Pacific and Americas. Second to none, it's important that looking into our product portfolio and the growth opportunities as a second pillar, we are certainly continuously challenging ourselves. Looking into second to none, here a quick view on starting with couplings. This is part of our specialty product group. The revenue is here in 2021, roughly EUR 115 million.
We're talking about a business unit of 400 employees. I'm happy as well today to have Linda as the CEO for this area here. We're talking about a CAGR of 42% over the last three years, which is very remarkable. Our self-assessment here, where are we in terms of second to none? When we talking about Kongsberg Automotive, we talking about second to none being at least among the top three in the industry. We're talking about a ranking in market share, number two, and a ranking on technology, on number one, which providing us a huge growth potential. Looking into the growth potential is certainly we wanna grow here in couplings in all directions, in a continuous market, a new market access.
You see that with the growth rates in U.S. and in Asia-Pacific primarily and in new fields. When I'm talking about new fields, I'm talking about a new generation of couplings for air suspension. I'm talking about smart systems, battery management systems, where Dr. Amsel will elaborate later on. But as well, looking into innovations like complete new areas, as mentioned in the honeycomb structure. For instance, in medical, which is, I have to admit, in a very early stage, but a very interesting field. Looking then on the second interesting segment is certainly our off-highway segment. We're talking about double revenue compared to couplings, EUR 240 million roughly with 920 employees. The CAGR lower on 7%, but due to corona, still remarkable. Very U.S. today, determined.
Looking then into the second to none, we are here in our self-assessment, ranking ourselves here in a market share on two and as well on technology on two. Here we see growth potential as well, doubling the revenue like couplings towards 2025, and this is four years from now. Majorly into entering the agriculture, entering construction, and upgrading our EPS to lightweight EPS, which offering us then a new application access. The areas here are pretty constant. We will grow in all regions. This is certainly an exciting path to share. Looking into our FTS, our fluid systems, here as well, important to know a EUR 132 million revenue company in 2021 with 1,000 employees.
You see here our self-assessment as well, top three in market share, top two in certain product areas in terms of technology. Second to none here as well among the top three, and with a growth ambition of 1.6% until 2025. We would like to unlock untapped potentials, in particular regionally in China and India. In particular, India is here a very promising market for us. Looking then as well into segments is certainly with truck business and industrial, but as well continuing on e-vehicles, in particular here with a close partnership on Tesla to grow here in a 60% range.
On-highway, as part of our powertrain and chassis, EUR 240 million revenue with 900 employees, second to none in market share in this on-highway area, which is special, with very attractive programs. If we talking about the ECA actuator or we talking about the manual transmission, interesting program. In this area, we are ranking ourself as well among the top three. A very promising area as well with a growth potential of 60%, majorly untapped here in APAC, and here I'm talking about China and Korea. Last but not least, in this area, we have our driveline division. Driveline here with negative CAGR from 2019 to 2021. We are here among the top six in terms of market share and in terms of technology.
This is a market where we certainly seeing growth, and we're having growth ambitions. It's a market where we have to do our homework in order to more unlock potential. This is rather beyond 2025. An interesting market which have huge growth opportunities still, in particular in China, where these shifter business, shift-by-wire, and the actuators which we're having here in this area are highly demanded, at least still for the next five to 10 years. Summing that up, we expecting strong growth in our most profitable segments, as introduced before. We will unlock that by our structured innovation process, and I will refer in a minute on that.
The growth rates here, to sum that up, in P&C, powertrain and chassis, on a level of 7%-9%, looking into the range of 2022-2026. Then referring to our special products, we're talking about even a higher growth rate, 10%-12%, and that's an annual growth rate. Looking then into the overall company, we're talking about a CAGR until 2026 of 11.5%, which is looking into the market compared to the market average, roughly 2-2.5 percentage points higher than the market. Kongsberg Automotive on a path for additional growth over averagely compared to the market. Interesting is certainly here as well, how does this mean in terms of profitability?
We seeing our profitability in the years 2022-2026 on-highway, 6%-10%. In the driveline as a very competitive commodity area, 3%-5%. In the specialty products here, a clear focus area together with on-highway for the future, a very attractive margin of 14%-16%. Coming back to strategic shift to grow in profitable segments. I would like not to elaborate too much here on the slide, but we clustering that, and Dr. Amsel will refer here more in depth, but we clustering this into our secure, accelerate, and innovative area.
P&C more on the secure area, be looking into our driveline business to really generating here competitiveness, upscaling these products which this additional new generations, which are cost improved and focusing on the Asia-Pacific, in particular China growth market. Then looking into the innovative parts in the P&C area, this comes more out of the on-highway area, where we have a clear roadmap. Again, Dr. Amsel will refer to that in terms of developing smart actuators, which are highly dedicated to e-vehicles, in particular, certainly on e-vehicles in the truck and commercial vehicle area. On off-highway, we focusing on China and Europe. On one side, accelerating our growth opportunities. Today, very U.S. dedicated with a potential to really spread that all over the world.
Again, here we want to unlock the potential by a dedicated sales company structure, as referred before, in order to really providing the maximum service and generating the maximum growth in these related areas. In terms of innovation in the off-highway, again, we developing here on an EPS lightweight version, which is really promising. On one side, it is a next generation for our ATV existing customer base, but it's as well providing upscales in terms of additional applications in the agriculture, in the construction, but as well in the on-highway commercial vehicle area. Very promising. On the FTS, growth China, India, particularly India, as mentioned, bears huge potential for us in a very profitable way. As well here, a dedicated sales company concept for India should help us to unlock this.
Fluid will be part of our thermal management system, and this leads me through couplings, a very promising, very strong developing area which, looking into innovations, is going to have the lead in the thermal management system. As said, we have here huge potential in a very broad market access from industry, commercial vehicle, through a lot of different applications up to a perspective in future on medical. Driveline business, as mentioned before, will be our major pillar for the remaining light passenger area, so passenger car market. Again, here, we see here still growth potential. The growth potential is rather beyond 2025, and it needs to be unlocked.
For this, we are working on a design to cost initiative and new generations in order to really strengthen here our competitiveness and moving out of a position six towards a second to none position. Then looking into the more conceptual approach, how we then accelerating and innovating, and this is a very interesting approach to share a little bit with you how we are generating ideas, how we are generating innovations, and we will see that in the CDO presentation more deeply. Looking in, we going through a development funnel, and you see here we collecting plenty of ideas in a lot of workshops, in market surveys, in market networks.
We generating out of that long list for product ideas, we starting to prioritize products, and then certainly we filtering out the top ideas, which going then to a committee, which is financially supported, but certainly technically and management supported. We are going to make, together with the business units experts, the decision to go for a product for new markets and for new regions. Another good example, looking into innovations, where are we, for example, in the on-highway commercial vehicle segment. Here using our product know-how. We are using our product know-how and coming up with new products for new industries by transforming our technology.
A second example is on off-highway, where we adapt our EPS, for instance, to get it ready for further applications, like material handling, as mentioned before, or even handing it over to commercial vehicle on-highway. The chances are here multiple, and last but not least, a very promising thermal management, where we are combining strengths of couplings, FTS, and on-highway. Upscaling this to a smart system is a very high growth opportunity towards coping with the e-vehicle requirements. As said, always out of a perspective being second to none, and we're seeing here a very good chance to place Kongsberg on a outpacing frontrunner position. Refocusing business models, that's what we're doing. Again, looking into this battery thermal management system, you see what is our ambitious plan here.
We want to grow here in terms of volume and value towards 2025 and beyond 2025, and we see that here as a more conservative approach, but it bears a huge potential and a very exciting area. Let me then go to the third pillar. The third pillar in our master plan is related to environment, social, and governance, so the so-called interesting ESG area. The ESG is increasingly a license to play. That's for our customers, that's for our investors, and that's as well for our talents. The OEMs increasing here the requirements, we see here a clear strong push supported by governments. We see that investors really demanding sustainable returns, and investing into green bonds and a lot of funding opportunities, so it's really an exciting area for investors.
We see that talents prefer green companies, and this is in particular on highly educated and ambitious talents, in particular in Europe, but as well in Asia-Pacific and U.S. They're really demanding values which are built up, company's values which are built up, with these social and governance and environmental requirements. We see this as an opportunity with a clear payback on the work invested, an opportunity to pull here. For instance, we talking about and investigating green bonds, for instance. We have added ESG to our targets and values, and specifically for us, it's important. We have decided to invest half a million EUR in 2020 to only incorporate, beside local budgets, to develop the activity roadmap, make even stronger towards our targets.
This is a must because, I mean, who's not doing it, who is not pushing this is certainly not second to none and will have to cope with profit risk due to these environmental requirements. Our sustainable targets in practice. What are we doing? Our targets here are in terms of going green. We want to be carbon neutral with all our products by 2039, and this is very ambitious, and it's clearly showing and underlining our frontrunner position. We want to be 100% carbon free in use of energy, and this until 2030. You see on the right side here a nice picture on a China factory here of Kongsberg Automotive, where we completely achieved this goal already with solar energy supply.
Certainly, we want to make sure that our entire supply chain is as well going green and coping with our targets. Looking then into digitalization, which is the next big thing, and here as well, I mentioned that before, it's an area which on one side certainly cost a certain investments, but on the other side, it's really an enabler to pull efficiency, improve quality, and reducing time to market. This is an enabler in order to cope really with the more and more volatile market requirements, which are asking for a higher flexibility. In Kongsberg Automotive, we started with this program, but it's clear here is still a very huge unlocked potential, and we would like to go behind that in our third pillar, combining it with our ESG initiatives and digitalization.
When I'm talking about digitalization, for instance, I'm talking about complete digitalization of our production base in order to cope in future with a better and more flexible and faster production planning, which is today one of the biggest challenges in the crisis because short-term demand cancellation or increase is providing today, in the current structure of the automotive industry, a huge challenge. This we are going to change, at least for Kongsberg Automotive, within the next two years by a clear digitalization concept, which will provide us a huge efficiency and automatically an increased return on investment opportunity. With this, I would like to have a coffee break. For how long?
10 minutes.
10 minutes coffee break, and we would like to resume back at 2:10 CET.
Also from my side, I'm also happy to be here. My name is Christian Amsel. I'm the CTO of Kongsberg Automotive. I started first of August this year, so only a couple of months on board. As you can see, we already did a very detailed analysis of our current product portfolios. As Jörg has already shown, we have taken some actions already to clean up our portfolio. My key focus will be a little bit on the transformation of the automotive industry, which is going on consequently. Of course, the question is what's the impact on our current portfolio and are we prepared for that and what are the next steps? Yeah. This CASE topic I think is known to all of you. CASE means Connected, Automated, Smart Mobility, and Electric.
Smart mobility is a kind of umbrella word. You can see it in the small letters here. It's a description of a transportation ecosystem, and this shared mobility is a subgroup out of that, just for you to know. This CASE is heavily influencing already the transformation of the automotive industry but will have a significant influence also in the next decade. I will break it down a little bit. You see here C-A-S-E, CASE. I structured this now in a different order, depending on the speed of the transformation, where the transformation is more or less already completed, where the transformation is ongoing, and where the transformation is obviously delayed. In smart mobility, you can see this is only the new car sales. New car sales means all new cars which are now coming on the market.
This is not the entire fleet which is in the field already. Just for you to understand, only the new car sales is listed here. You see that in smart mobility, and you see here the different order. It's no longer the CASE logic. It's more now in the order of the transformation speed. The smart mobility is already more or less done. 100% in all regions is already done. Connected, connecting the car to the infrastructure, for example, for remote software updates and other stuff, this is also heavily ongoing, more or less complete in 2025. You see here the last regions, like China is running a little bit behind, but we see that this is already more or less completed.
If you look at the details, what are currently the challenges in connected, you can see, for example, that the business model for the OEM still remain quite difficult, and some of them are struggling really with a reliable service at scale. Electric is the most interesting topic, which is ongoing right now, and you can see that every region is progressing on a different speed level. In Europe, we can say e-mobility is an inflection point already driven by strong government drive incentives and regulation initiatives, and we expect to have a share of 27% battery electric vehicle shares of new car sales in 2025 already, even faster than in China percentage-wise. If you look at the total figures, of course, the total market in China is much bigger compared to the European market.
You see the figures on top of the slide, what is the market size of new vehicles in 2030, for example. Automated is significantly delayed. A couple of years ago, when I also spent time on automated driving systems, that was not so expected like this, but mainly hurdles are really end customer acceptance, but the main topic is legislation. I've just seen today Daimler got the first Level three approval from the government, but no other OEM so far got this Level three approval. You remember there are five levels of autonomous driving. Level one and two are already in production with autonomous cruise control and camera-based lane control, lane keeping system functionality. Level three is the first step towards further automation up to Level five, where the driver is no longer needed.
Yeah, this was somehow stagnating in the last years. Now Daimler got the next Level three authorization today, and hopefully this will open up then the way forward towards next levels. So far, you will see Level four, limited and mainly more in commercial application, industrial and logistic applications in specific areas which are not open to public. There you will see this autonomous driving topic much faster in higher volumes in production. Looking at the E of the major trends, electric, we see that by the end of the decade, battery electric vehicles, at least in the light vehicle segment, passenger car segment, will be the most effective powertrain solutions for almost all light vehicles in future.
Also to better understand what's really driving this electrification process, for me, the three major pillars are, on the one hand, consumers, technology and regulation. Starting with consumers, still today we have the discussion about range anxiety and charging options, which is in every country different, but still a topic for all of us. Also how to get charging infrastructure established at home is, in many cases, a big issue as the needed power is not available in all homes today. Also availability of electric vehicles currently due to the shortages of semiconductors is a topic. The costs, the performance, the image, all these influencing factors are driving from end consumer point of view the introduction speed of electric vehicles. Technology-wise, this technology is not completely new.
Lithium-ion technology is already available in the market since more than 15 years, but now it's getting a mass market and it needs to be further optimized. On the one hand, we need to work on further efficiency improvement and cost reductions. High voltage is a new topic. The standard voltage in these electric vehicles is between 400 and 600 volts. Now it's going up to 800 volts. The first vehicles have, for example, in Porsche, seen the market already based on an 800-volt system, which can be charged much faster, for example. But we also see in future coming soon fuel cell technology. Also here there are some entry barriers besides the infrastructure for charging. It's also the question how to generate the hydrogen in a green way.
Currently that's also not fully answered, but we will see later that this, the different kind of technologies, also fuel cell technology, is needed to comply with the CO₂ requirements, which are getting tougher and tougher. This is the third topic, regulation. The European community adopted a package under European Green Deal this year aiming for climate neutral in 2030. That means, if you look at other regions, there are similar exercises, but we will see on the next slide what does that mean. The original targets for 2030, which have been 70 gram for light vehicles in 2030, have been significantly increased or decreased again down to 50 gram per kilometer. What does that mean? How to come to that level?
On the one hand, we need to drive for further efficiency improvements. That means all vehicles or many vehicles go from 12-volt vehicle architecture to 48-volt vehicle architecture to have more efficient starter generator systems, regeneration of current and other stuff in place, but also other gas and hybridization options are entering the market, but that will not be enough from my point of view. There will be a lot of new activities coming. Plug-in is, in many cases, only a kind of accelerator to meet the legal requirements, but also here, the legislation will change, and the impact on the CO₂ emission balance will be not so high anymore in future. It will be reduced year by year. There will be a push also for an interim period of time for synthetic and biofuels and also fuel cell technology.
You will see later in my presentation that we are already on that. We have a complete portfolio for tubes, for example, for biofuels, and we are already working on the first customer RFQs and RFIs for fuel cell technology as well. How we manage now as a company this transformation process. We started. I will come to that later. First of all, innovation involves uncertainty. That's clear for every company, for the entire market. Therefore, we choose the structured methodology to ensure that we really do the right things in future. What we currently see in this transformation situation, there's a high degree of technical changes. There's high margin potential in the market.
You can see here in the middle, the margins in the different vehicle segments are different from in the high volume passenger car segment on the left side is very low. In our preferred segment, what Jörg has already presented in the commercial vehicle segment, the margins are more attractive. On the right side, this is more the off-highway segment. The margins are also quite interesting, but the volumes in many cases are lower. Also here, we see good high margin potentials in some areas, in selected areas, and we also need to understand what's a good fit for our current and existing technology and production and customer base. All of these, let's say, factors are definitely door openers for us entering new areas, offering new technology and new products to our customers.
We structured, as Jörg has shown already, the funnel in his presentation. This picture on the right upper side is a little bit more technical. We started with more than 120 product ideas, and then we narrowed it down, and we have started with the first three ideas, which have been mentioned by Jörg as well. It's on the one hand, thermal management system. Here we see a big market. Thermal management, what does that mean? All electric vehicles in future need a lot of cooling power. The cooling efficiency will finally decide on the range and also of the performance of such an electric vehicle. So this is getting more important. You will later see that our products, for example, in couplings, are already prepared for that due to some nice features we are preparing.
The second topic is electric power steering, as already mentioned. Here we are preparing new variants to enter new segments in other application fields like agriculture, material handling, and further. One of the key strengths of our company is actuators. You will see this later in detail, but here we see also a strong growth segment where we're really focusing the upcoming years, really broadening this actuator portfolio to a big bunch of actuators in different vehicle segments. Finally, after this process, we applied these different criteria, market attractiveness, but also the ability of Kongsberg to become under the top three, and we took the decision to focus on these three innovations. All these innovations will be set up as a kind of innovation cell.
Innovation cell is, for us, a technology really to focus on these topics and to minimize time to market speed. That means from the first innovation idea to serious production as soon as possible to minimize time to market. How do we plan to further grow and expand our portfolio? There are three dimensions which we are focusing on. On the one hand, we see with the current product portfolio, we have a lot of growth opportunities. If you remember the slides of Jörg, you could see that in some areas we are strong, in some areas we are not so strong. At some customers, we are top. In some customers, our share is quite low or even zero. We see with the current product portfolio a lot of growth opportunities which we now consequently tackle.
The second topic is, we grow selectively our product portfolio. One of the key applications we see in future is thermal management. It's really growing in every e-vehicle. We need the thermal management solutions in passenger cars and in trucks, and this is really a fast-growing segment, which is one of our key activities as well. Where we also go beyond the component level, we will enter as kind of smart system level. If we plan to enter this level, entering more intelligence, more electronics, more sensor technologies to the system, and also offering smart valve technologies, for example, really to enter this topic not only on component, but also on smart system level, to have more value in our products. We also consequently want to enter new customer segments. Jörg has shown us a couple of different elements here.
It's clear that our key focus on the last years has been on passenger car, truck and off-highway in specific applications in off-highway, in powersports, for example. We see a lot of growth potential in other areas like agriculture or also other applications like forklift applications, material handling and so on. Yeah. These are the three areas. Broaden customer base with the current portfolio, extend selectively our product portfolio, and enter new customer segments. That means transfer the product portfolio to new customer segments like material handling, agriculture and so on, where we are today not so strong. That means we don't need to reinvest in R&D. We can take what we have and do application in a very efficient way. How do we do innovation in future in order to secure cost-efficient development and short time to market? We have reinforced our innovation process.
It's a quite simple structure on the right upper side. It's a three-phase approach. I call it with three horizons. These horizons are also timing-wise horizons. On the left side, it's more the exploration phase, early phase. Normally, it's five to eight years before you start a production. Then in the middle, you find the horizon two. It's the ideation phase. There in this phase, we set up the innovation cells. Here we start with the innovation cells and try to push them as quick as possible to the third phase, to the final phase, the foundation phase, before we then start to quote to customers and to start our development activities. This is key in order to shorten time to market.
We really want to go from one phase to the next phase as quick as possible, and this is only possible if we focus on the right topics. If we don't go too broad, we do it focused. As I said, we start with three topics. Once the three topics are set up, we have more ideas. You have seen the list was quite long. We have more product ideas. What could be the next innovation cell? This will be disclosed maybe in one of the next capital market days. If you look at one example, the couplings, for example, you see that a lot of products are already in the final horizon one, close to series development. For example, thermal management couplings are already quite far. We are really prepared for this new rising market with a nice product portfolio.
We also want to enter new applications like air suspension systems in the car, which is also a fast-growing segment. What you also see is, for example, ABC next generation couplings. We are continuously updating our product portfolio. It needs to be renewed. It needs to be more cost-effective, less weight, less costs and other performance improvements. We are also in the exploration phase. You see there are a lot of bubbles. I cannot disclose all of the bubbles, what we are working on for competitive reasons, but one of the topics is also medical applications, where we think this could be a nice opportunity for us as well to analyze and to understand, could this be another growth potential for us, transferring our current technology to other applications with a huge market in front of us.
Which will make us also a little bit more resilient and more independent from the pure automotive market, which is going up and down, so this offers quite a lot of opportunities for us as well. Finally, I would like to guide you through our product portfolio with some highlights on the different areas and starting with couplings. I think couplings, we really have a strong market position. We see that this market on pneumatic brake applications will stay in future. That means these pneumatic brake applications in trucks will not change in the next 10-15 years. There's no other solution. Our pneumatic solutions for trucks will stay in the next 10-15 years. It's a very resilient area.
In these trucks, for example, we have 200-300 couplings per truck, so it's a huge market for us in every truck. Due to our technical advantages, no air leakage, you can see here some nice pictures, optimal airflow, that means you can reduce the system costs. The pumps can be smaller maybe, or the tubes can be smaller, the diameters, whatever, you can optimize it. Having the best couplings, what we are offering, the system costs go down. We have a very nice and click and click assembly solution. We have demonstrated that today at the Capital Markets Day in Kongsberg. That was, I think, easy to understand.
You just click it together, and we are much more flexible compared to other solutions, field three solutions in the market and we can adjust much easier to changes from the customer side. We also change more and more from the brass material to lightweight material to composite material. In the meantime, we have already achieved a significant share in composite material, so the entire weight of brass material is reducing as well. Second remark is, as I mentioned, we are updating our product portfolio. We are entering new applications, thermal management, but also air suspension system, twist lock application and others, which is also very important. Our system is highly acknowledged in the market, and we see a lot of growth opportunities by systematically broadening our product portfolio, but with always a very clear focus. Fluid Transfer Systems.
I would like to start first with the product trends. We see in the market of, since the last years, a very strong trend in further weight savings, in tighter packaging, increased durability, increased safety, and increased cleanliness. On the left side, you can see all the different applications and also the different technologies, ICE engine-related, but then what is in the future coming, plug-in electric vehicles and fuel cell vehicles. You can see here, of course, these conventional fuel lines will somewhere disappear in future. All the other technologies we have already in the market today is proven technology. We are very successful here, and we are prepared for the transformation process, which I have introduced at the beginning of my presentation. Looking into the details, I don't want to explain every detail here on the slide, but we see three interesting topics.
As I mentioned, this air suspension topic is a very interesting market segment which is increasing. Together with our couplings and the fluid transfer systems, we really want to offer nice system solutions, and there are also opportunities for further integration of intelligence into our system, sensors, sensor information, and also to prepare our system for future safety relevant, self-driving cars. We expect to have more intelligence in our systems. Entering sensors for leakage detection, entering sensors for pressure detection and other things, and temperature will be consequent steps of the future. I mentioned the CO2 reduction targets in 2030 will not be easy to manage, and in all simulations I have seen, only with electric vehicles, this will not fly, so that every OEM needs to broaden for this, for the next 10 years, his portfolio.
They are already entering fuel cell, but also in between, they offer biofuels and synthetic fuel solutions. Here, we see that we are well prepared with our fuel systems because these biofuels are much more aggressive and many of our competitors are not meeting the requirements from our customers. Our solution is already qualified in production for biofuels, which is definitely a growing segment in the next years, where we are completely prepared in production and qualified. The last interesting topic, I think, is the battery cooling lines. Together with the couplings and our tube solutions, we think that we are also here well prepared. Currently, we are evaluating all options inside the battery, cooling of the cells, but also outside of the battery. If you look at the truck, there will be cooling lines up to 5 and 6 meters.
For us, it's a very big market, and we are also analyzing here the requirements. It's not a theoretical exercise anymore. We are already nominated from a European OEM for B-sample. It's A-sample, B-sample, and C-sample, and then the series development starts. We are already in the second phase, and we are now preparing the third phase, the C-sample phase. It's the final phase to get nominated for the entire volume for the complete production time. We are quite close to that as well. It is very promising. It's only one example. Of course, we are working on a broader scale with more customers on that as well, and that shows how interesting our current portfolio is. Concerning fuel cell, also here, we see a lot of customer interest on our side.
Without disclosing here many details, I can only show you one example where we received the first request for information, RFIs, for fuel cell trucks already. A very low volume in the beginning, but technically for us, very important to understand, are we able to meet these future fuel cell requirements in future with our current product portfolio in couplings and FTS and others? Yes. The answer is yes, we are, and we are preparing this consequently. This is just to give you a feeling, a better feeling, how far we are with our current product portfolio, meeting also future requirements already, even though fuel cell vehicles are today not really relevant for the market. We are prepared for that, and we want to be first to market with these applications as well.
Finally, a short look on some other products which are meeting electric vehicle and also autonomous vehicle requirements. As Jörg has already shown, we are very successful in off-highway segment and powersport application, ATV applications, and electric power steering. We are working on a lightweight EPS in order to improve technical parameters, size, weight, and power consumption, but also to enter new application fields, for example, in agriculture and material handling or even beyond that in passenger car and truck in future. Our current solutions for electronic pedals and hand controls are well known, but you will see later we are continuously extending this portfolio. The technology will slightly change towards shift-by-wire systems and a lot of push-button solutions, depending on the application, powersports, watercraft, looks different compared to passenger car or truck applications. We are on that, and you will see this.
We are also getting engaged in battery management systems. So far, that was no option for our company, but we are entering battery management electronics. It's a BMS, it's build- to- print and build- to- spec applications. The customers are approaching us. They ask us for support to industrialize battery management system for lithium-ion batteries. Also here we are getting involved also in high power electronics like battery chargers, battery monitoring and diagnostics, and inverters. We get a lot of customer response, and we are entering step by step also here with our current product portfolio and new products the market. Autonomous driving, of course, is braking and steering and a lot of sensor technology. We are very strong on the actuator technology, electric power steering.
I don't want to repeat that, but also here we have shown already successfully in an agriculture vehicle that our functionalities are really running well in such an application. We also have niche applications offering more value with GPS, for example, to offer more value to the customer and integrate some functionalities to save system costs. Driveline, this is our P&C business. Also here we see a strong trend from the so-called cable shifter for manual and automated transmissions. Everything will be without cable in future. You see here toggle shifter and rotary shifters. Our shifters are very well perceived from our customers. Our shifters offer really a low noise level compared to our competitors. We are currently running a lot of RFQs, request for quotations, and we see a very good customer response here.
The rotary shifters, we are working on new locking mechanisms which offer a lot more freedom and flexibility to our OEMs using this kind of rotary shifter, not only for shifting but maybe also for other functionalities, to integrate the HMI functionalities to make it more intelligent. On the actuator side, we have this morning presented at Kongsberg as well our current portfolio, which we are consequently extending. We are one of the market leaders in gear and clutch actuation. In the past based on pneumatic solutions, in the future based on electromechanical solutions. You see here some examples for the passenger car segment, which are partially already in production or in development. We also checked our resilience and suitability in the driveline passenger car segment for the plug-in vehicles and also the EV vehicles, battery electric vehicles.
You can see that all our products are meeting these requirements for the future. All products are getting electrical, electromechanical, and so we are prepared for this. Here you see a lot of different shifter variants, what I have already indicated. The core technology inside is always the same from development point of view at R&D expenses, but externally it looks different. This is what we see in the market. Here we have, as I mentioned, nice technology which have at the moment technical advantages, for example, noise level compared to our competitors. On highway is a truck segment. We see also here an increasing dynamic. You have seen that the first truck OEMs have launched the first e-vehicle trucks a couple of months ago.
These trucks have been more or less in a replacement, take out the conventional powertrain and integrate an electric powertrain. The new architecture trucks will be launched in 2025 and beyond. Due to the legislation, we see there a need of all trucks, truck suppliers to change to electric trucks in future more and more. The share will significantly increase starting 2025. Our current product portfolio is also here prepared for this. We are very strong in these pneumatic actuation systems. We have single units or highly integrated solutions running in high volumes in production. There's a huge market in the next 10 years in growing markets like China, in India and Brazil, where these highly standardized product will be deployed from us.
On the other side, we see a trend towards electrification of the complete drivetrain and partially the actuators for gear shifting and also in the current systems already for clutch actuation, will be more and more electrified. We are already in production with this high force actuator since more than a year. We are first to market with this high force actuator in production, and we are extending our portfolio here significantly based on a kind of building block approach, a standard solution, block sets, and then enhancing this product portfolio to a couple of other applications in truck as well. Also here, the maturity check. Are we prepared for future transformation process? Yes. You see here similar pictures, but the size is different. For passenger car, the size is like this, and for trucks, the size of the component is like this.
The amount of cycles is 200,000 on the one hand and on six million on the other hand. The right upper side, you will see our vehicle dynamics product, which is also a very successful product portfolio we have in production. This will be more or less untouched from the ongoing transformation because it's a chassis application. You need chassis today, but you also need chassis in all e-vehicle and truck applications in future as well. This is an ongoing segment where we are really a strong supplier in specific applications, which you can see here, and we will continue that as well, and we expect here further growth.
Yeah, coming to my conclusion, as shown to you today, I think we are on a good track. We have developed a systematic approach how to evaluate the current product portfolio we have. We have already reacted with the divestments to clean up our portfolio. For the future, we have a clear, defined way forward. We are transforming consequently our product portfolio to better match the future of our industry. Also, outside of automotive, our key markets will continue to be commercial vehicles, off-highway, and also selected exposure to passenger cars, as we are quite successful with fluids and also shifter business, for example. The future of our product portfolio lies in profitable niche segments closely related to our current markets. There are segments outside the automotive sector which may also be a good fit for our product portfolio.
That's all from my side. Thank you very much.
Yeah, thank you very much, Christian, for the explanation and let us guide through to the exciting product portfolio and innovation roadmap. I would like to continue now moving to the financial targets, and this is starting with the topic how financial and controlling in Kongsberg is going to support our roadmap. Finance and controlling is strongly supporting our growth path and make sure that we going rightly and controlled in the profitable growth, in an innovative growth, and in the managed growth area. All this activity should result into improved financials and sustainable return on investment for all stakeholders.
We want certainly to ensure that this, with a strong future of a strong finance and controlling organization, and the in particular existing process and strengthened process along the three pillars will support the second to none initiative. When I'm talking about profitable growth, with the divestment of the lower margin and cash-intensive business of Interior, we did the first step in order to push our profitable growth. Beside that, we as well going to continue with our performance improvement. With the performance improvement, we have an still very attractive upside, which we started to pull in 2021, but where we are going to continue as well in 2022 to uplift our profitability in our existing business. That's one step of the profitable growth.
We're having the innovative growth, where we are looking in particular strongly from the financing point to make sure that whatever we are doing now really pulling up our average margin, and that's what Dr. Amsel mentioned as well, looking into the three directions. Broaden our product portfolio, going into new regions, but as well going into new markets in a very innovative way with a sales company concept very much dedicated to profitable growth will be the next uplift in our EBIT and our profitability. As well in innovation, the finance is supporting here as an active member in making decisions.
We're looking certainly in whatever we are deciding in our innovation, in our innovation cells, in the funnel which we described in terms of how we are prioritizing innovations and how we are prioritizing investment funds in order to execute these innovations. Finance and controlling will play a very strong role in analyzing and recommending here the right steps in terms of increasing profitability on a very reasonable investment, so CapEx ratio, and securing that the return on invest time is short and providing a quick return on cash here.
The last topic is certainly managing the growth, and that's one of the topics where Kongsberg tremendously increased the focus over the last six quarters, and this is the liquidity management, and this is very important for us as well, because liquidity is very important to manage the company and keep the company healthy. That's one of the topics, whatever we are doing, we certainly want to keep this company in a very healthy and liquid condition in order to foster the growth and being and having room for maneuver. Here just an example, and that's just the first year of post divestment in a pro forma P&L. Even by far didn't unlock the full potential of our divestment, but to provide you a flavor here.
You see in all major KPIs, we are lifting up the profits of our P&L post-divestment, and you see that, for instance, in the adjusted EBIT. We are lifting here pre divestment, so all-in with Interior, lifting the EBIT with this divestment up from EUR 39 million to EUR 50 million, or better to say, from a 3.5 percentage point EBIT company to immediately a 6% EBIT company. That even considering 29% less sales. As well in terms of important cash-oriented KPIs, if we're talking about CapEx per sales per assets, or even looking then into the return on capital employed or sales per FTEs or sales per employee, we tremendously lifting up.
That in a year where the full potential is by far not reached in an environment where we are still full in the semiconductor and corona post impact, plus fully stranded costs included. You see here just as a quick view what the potential is here and how we are generating by those divestments the way into a more profitable, ever profitable company. Looking into internal targets is one topic. We certainly are benchmarking ourselves as well with the best in the industry. If we're looking then into benchmarking Kongsberg Automotive with our initiatives and our runway with selected companies, and we are referring here to measures in 2021 on our competitors, then we're seeing here that looking into HELLA, for instance, very successful.
Why we have chosen HELLA, very successful, in particular, in this special product area, where we're fostering a huge growth in the future. We have Dana here, a very competitive supplier operating in the P&C area, and we have an ElringKlinger who is very active in fluid system. This is a mix, just as a view on competition. If you're then looking into the major KPIs, you see from a gross margin perspective, in 2024, we're going to be here in a level of a benchmark of HELLA, for instance. If we're going to look then into, for instance, EBIT levels, then you see here we are going to outperform certainly here the industry by this direction and move among our Shift Gear improvement program.
We're going to outperform here in with the future product portfolio, with our initiatives, certainly the industry. This is fostering, again, our clear ambition, where we would like to land and where we do see the potential of the company. This is a very, very realistic plan. Looking into that, we certainly can hear with all pride and respect saying, "We are here on a clear track in terms of becoming second to none, even when we are going to compare us within this plan with the best in the industry." How we are implementing all this? Certainly, I would like to emphasize again, this company has as well a lot of potential, not due to interesting products and innovation potential or long legacy and a very good image.
It's here as well all about the employees and people. Let me emphasize here, this is a fantastic employment base, a very strong and committed organization, which are absolutely able to push this agenda, which is ambitious but very realistic, forward. We're looking here into how we're going ahead with our Shift Gear one, two, three. We started, as I've mentioned already, in May with our performance improvement, and we're going to continue this. Not only continuing this, we're going to even push it forward. We're moving these improvements certainly on a sustainable base from 2021 to 2022 over, and then we're focusing in particular in 2022 on operations.
This is our new field on where we want to pull additional performance improvement potential in optimizing factories, optimizing capacity utilization, and really going via line balancing to a higher productivity in our footprint. The other topic is certainly our organizational model. As I said, we started to build the structure for our sales companies. The sales companies is a very attractive and very efficient way to really pull potential in these areas, which we didn't cover today. It's a really dedicated business development, which where we made very good experience, and provided a lot of success in the past. We're looking then into the product transformation, and this going to continue as well.
In this regard, post-divestment, looking into how we're developing P&C on a secure on one side, in the driveline business, yeah. Standing them in a separate organization, driveline dedicated for passenger vehicle in the first regard, optimizing the structure, and improving the competitiveness while we on the on-highway coming up with new innovations, as Christian mentioned here. So, EV vehicle-related new actuators, which definitely going to increase here as well our average profitability as mentioned before. We will accelerate and innovate in this fantastic and great area of off-highway fluid systems coming with smart systems, and this is on our horizon to foster that until September 2022.
In the end, we are going to invest in sustainability, the environmental and digitalization, as said before, and this is a continuous roadmap, but where we are fostering a big step forward during the year 2022. A clear roadmap towards the end of 2022, which then should relate certainly into growth perspective. The topic what I wanted to touch here as well is certainly, subject to the closing, what is the company doing certainly in terms of the net proceeds out of the divestment. I would like to announce today how we are going to handle this amount of EUR 175 million expected net proceeds, which should be in end of Q1 2022. We wanna do that in three different ways. The first topic is certainly we are going to deleverage our debt.
We are going to reduce our bond here, which will help us then, as well towards the net profit by reduced interest and freeing up capital, free capital. On the other side, it's helping us as well towards a reduction on the gearing ratio, which makes the company even more attractive, where we are lowering the gearing factor in a perspective down to 1.75% times in the first step. The other topic is, we are going to generate a cash return to the shareholders.
We decided that from the company perspective, we are going for share buyback as soon as the net proceeds are in, and this is going to be in the magnitude of 10% of the market cap, as this is a limitation here from the stock exchange. This is, let's say, a continuous option. We are going to continuously looking into this option by generating more and higher operational profits, which we clearly expecting over the next coming quarters. We will continues to look for opportunities to buy back shares whenever the stock is certainly undervalued. 10% of the market cap in share buybacks.
Second step, for next year, and then last but not least, we certainly using liquidity to further invest to foster our accelerate program, our environmental footprint extension, but as well to remain a certain flexibility, and opportunity for additional M&A activities. Key takeaways, coming to the summary here. In 2021, we have weathered the storm, and we prepared for the future. We laid foundations. Despite the corona year two, with all the challenges, we successfully countered the magnitude and impact of the semiconductor and raw material or sub-supplier crisis with our performance improvement, certainly, much better than a lot of the average of industry.
Besides this, certainly we started on our transformation process, and we started to sign the sale of our interior business, and we are heading towards the closing in quarter 1 2022. With the net proceeds, as mentioned, we deleveraging our debt, and we providing a payback to our shareholders by buying back shares in the magnitude of 10% and strengthen our liquidity in terms of flexibility towards our roadmap. With the divestment, again, we moving the company in our transformation more from a very volatile passenger car business, more on a higher rate to commercial vehicle, so-called on-highway segment, but as well tapping into new markets like described before. We moving our clear focus and activities to a much higher profitable area.
With this, we're reducing, let's say, clearly our cash generating or highly intensive investment programs to a more cash generation niche market. That's looking into the KPIs to 2023, we want to be at a 8.9%-9% EBIT company. In 2024, we're talking about 9%-10% EBIT company. In 2025, we certainly wanna be on the way above 10% EBIT, which is absolutely achievable and in particular with our plan here, a clear target and consequently result. Looking forward, and certainly subject to our divestment, we're going to invest into our innovation roadmap. We will strengthen our organization, where we started already. It's a culturally very healthy company.
It's a very motivated organization, and we will provide them better processes, and we will invest into tools in order to make this organization even more effective to help us in this roadmap. We're going for these untapped opportunities, regions, new segments, customer bases, and the product extension in an area where the profitability is much more attractive than today. We will invest into sustainability to cope with the environmental requirements, but as well, in order to support here pulling additional profit and cash towards our 2026 target on a sustainable base of 11%-12% EBIT with a strong, sustainable cash flow which going to continue the growth, but is going to provide, and that's our clear target, an attractive shareholder return every year on a sustainable way. Yeah. We drive the global transition to sustainable mobility, and yeah.
Thanks again for the attendance. Mobility is our future, and I hope we could give you an insight in Kongsberg, in the new Kongsberg, and our initiatives. With this, Jacob, I think we heading towards the Q&A.
Thank you. Yes. We've got some questions in from the online audience. We can come to the physical audience as well. The first question that's come up is whether we are foreseeing impacts on revenue from the supply chain going into 2022, or whether we are seeing the situation start to normalize in 2022?
According to the outlook, and as I said, there is going to be an impact in 2022, and this is communicated in the industry already since months. For us, that means we consider that in our planning for 2022, respectively, so we priced that already in, and it should not surprise us on our roadmap.
Another question we have from online is, regarding electrification. A viewer wondering whether the electrification of the auto industry would lead to higher growth in revenue for Kongsberg if we are following along with the technological advancements.
Yeah. We see in general that our product portfolio will be enhanced. It will be enhanced. The value of the component itself will be similar, sometimes even higher, so we will benefit from this trend. The portfolio will be broader, and there's sometimes even higher value if you compare the electromechanical actuators, for example, compared to the simpler pneumatic actuators, there's a lot of more value inside. Yes.
There's another question that's just arrived from online. Could you elaborate on when you plan to redeem parts of the bond and whether we should expect this to take place after the interior sale in Q1 2022?
Yes, definitely. As reported, we are going to head to a closing by within Q1 2022, and right after we are going to reduce or deleverage our bond, and we are going for the share buyback.
Any questions in the audience?
Uh-
There's one.
Johansen, E24/Bergens Tidende . On the point to return to shareholders, does what you say about share buybacks exclude ordinary old-fashioned dividend?
Exclude the dividends?
As I understand the question, the fact that we've chosen a share buyback means that we will not be paying a dividend, but rather returning cash to shareholders using share buyback as the mechanism.
We are definitely decided to use the share buyback, as a mechanism, but that doesn't include, on a long-term perspective, alternatives like direct dividends.
There's a question for Christian. Thermal management appears to be a major growth driver and pillar under your strategy. Could you please elaborate a bit on the required R&D and CapEx, and how you see yourself competing with larger competitors like TI Fluid Systems in the segment?
Yeah. We are not comparing ourselves with these complete system providers. We have three levels. There's a complete system provider, smart systems, and component level. We are very strong in the component level. We are entering the smart system level. But the key answer towards R&D and CapEx expenditure is we are coming from our current product portfolio in couplings, in fluid transfer systems, and also in actuator technology, and we are broadening this product portfolio. That means this is a conventional growth internally, and we are creating variants out of the current portfolio. It's an effort in R&D spending, but it's not a new development on a green field. Similar for the actuators, we are also thinking about multi-valve technologies based on our current actuator portfolio. We are thinking about that as well. This will be an investment, but limited.
It's not a new EV generation development. It's more evolutionary growth, deriving variants out of our current portfolio.
Okay. The final question we have is, yeah, and I believe we have been asked this before. Are we considering a listing or a parallel listing in Germany to attract a more automotive-friendly investor audience?
Looking into all these opportunities, I have to admit, as well in this opportunity, and yeah, we will come back on that, yeah, as soon as we have a clear way on that.
Okay. I believe that's the end of the questions from the online audience.
My name is Ariel. I'm an investor, and I just wonder about the stock exchange announcements. You said in one of the pictures that you will enjoy informing every day, but does that include the stock exchange announcements?
Yes, definitely. I think we clearly decided and practicing already a much more transparent and open communication, and we are going to continue on this. We want to have you investors and observers and analysts very well informed and on-time informed about our moves and about our progress. Yes.
Yeah. Are you looking to divest more areas, for example, powertrain and chassis, similarly to what you did with the interior division? Are you looking to divest more businesses?
As well, in terms of the or as part of the product transition Shift Gear Two initiative, we're certainly challenging the product portfolio on a short, mid, and long term. We as well looking into those options, we challenging that at any time. Currently there are no active activities here. Certainly we're looking. We challenging product portfolio at any time, and we're looking, and we remain in looking into those options. Yes.
Yeah. No more questions.
All right. Thank you very much.
Thank you very much.