In order to expand in India, ZF announced an investment of approximately $238 million. The company is doubling down its focus in India. ZF is partnering with Mahindra Racing for Formula E supplying silicon carbide-based power electronics alongside the electric motor and transmission.
- The investment will support strategic consolidation of its business domains with renewed impetus to drive growth over the next decade.
- ZF already enjoys a leading position across various technology solutions in automotive and non-automotive business segments, as a preferred partner of choice
The prominent expansions and deals by ZF Friedrichshafen are featured below:
Feb 2021: To expand manufacturing in North America ZF is investing $200 million in commercial vehicle transmission manufacturing. The expansion of production line at ZF Gray Court will create more than 500 American jobs.
May 2020: The worlds leading auto parts manufacturer ZF Friedrichshafen AG had announced the completion of acquisition of commercial vehicle technology supplier WABCO, having gained approval from all required regulatory authorities.
April 2020: In response to Covid-19 pandemic ZF North America a subsidiary of ZF Friedrichshafen AG had announced its partnership with Michigan-based Detroit Sewn to the fight against coronavirus. As per agreement 100,000 face masks is expected to be delivered to Detroit Sewn by the end of April 2020.
March 2020, ZF Friedrichshafen AG had announced joint venture with Wolong Electric Group Co. Ltd.. The partners will develop and produce electric motors and electric components for various vehicle applications at the Chinese Shangyu location. The joint venture will supply components for the new ZF hybrid transmission.
November 2019: ZF Friedrichshafen AG had announced the construction of third Chinese research and development center in Guangzhou southern China. The company plans to invest approximately $95 million in the new development center.
About ZF Friedrichshafen AG
ZF Group, headquartered in Friedrichshafen, Germany, is a leading auto component manufacturer. The company provides system for passenger cars, commercial vehicles and industrial technology, enabling the next generation of mobility. The company has operations at around 240 locations in more than 40 countries of the world. The company has workforce of approximately 148,000 people worldwide.