Construcciones y Auxiliar de Ferrocarriles SA (CAF) is a manufacturer of railway vehicles. It offers various flexible products ranging from integrated transport systems to wheel sets, components, infrastructure, signalling and services. It also offers a diverse range of rail and related products such as high-speed trains, regional and commuter trains (diesel and electric), metros, trams and LRVs or locomotives. CAF operates in four reportable business segments namely Trains, Services, Buses, Integral Systems, Equipment and Others. In FY2022, the company capital expenditure stood EUR77.5 million which grew 73.9% YoY.

The company’s research and development (R&D) activities focus on quality, safety and eco-efficiency of its products, to meet the customer requirements. The company is currently involved in the development of 144 active projects which have been classified into various categories such as Zero Emissions, Autonomous and Automatic Vehicles, Digitization and Competitiveness and Portfolio Extensions. The Zero Emissions category focuses on developing alternative propulsion systems based on storage in battery and hydrogen fuel cell. Its Autonomous and Automatic Vehicles develops technologies related to autonomous driving for applications in trams and ADAS buses. The company Digitization and Competitiveness category aims to implement cyber-security and artificial intelligence. Moreover, its portfolio extension category intends to develop new technologies in transportation which include Rails and Busses. In FY2022, it spent EUR6.7 million on R&D, which accounted for 0.2% of the company’s total revenue.