ZF to invest EUR200 million in India to drive growth

ZF, a leader in driveline and chassis technology based in Friedrichshafen, Germany, is doubling down its focus in a significant investment of around EUR200 million (USD238 million) and strategic consolidation of its business domains with renewed impetus to drive growth over the next decade. 

Commenting on the strategic imperative for India, Dr. Holger Klein, ZF  Member of the Board responsible for Asia Pacific and India said: ”Despite the current severe situation regarding COVID-19 in India, the ZF Group strongly believes in the long-term growth potential of the region. Therefore, we are launching a Refresh India four-point strategy. This includes an intensive plan to rapidly grow our business in one of the largest automotive markets in the world.”

The investment over the next few years will include product launches, manufacturing, and engineering footprint expansions, hiring and other developments across all business domains. 

ZF already enjoys a leading position across various technology solutions  in automotive and non-automotive business segments, as a preferred  partner of choice. ZF is also well positioned to shape the future emobilityand next generation technology in the Indian market through its global  portfolio. ZF is partnering with Mahindra Racing for Formula E, supplying  silicon carbide-based power electronics alongside the electric motor and  transmission. This partnership heralds’ endless possibilities for future  introduction of such advanced technologies in the region as these  technologies get tested under the harshest conditions.  

In the commercial vehicle space, its acquisition of WABCO bolsters its manufacturing and engineering capabilities to increase the content per  vehicle. 

“In this next phase of growth, we will also continue to leverage  India as a global sourcing hub across four areas: R&D majorly focusing  on software development, IT & Digital Innovation, Manufacturing and  Material Sourcing,” Klein said.