Source: ZF announcement
PUNE, India — ZF, a leader in driveline and chassis technology as well as active and passive safety, is doubling down its focus in India through a significant investment of around 200-million-Euro and strategic consolidation of its business domains with renewed impetus to drive growth over the next decade under its Refresh India four-point strategy.
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. We plan to invest around 200 million Euros in the next few years to aid this growth through product launches, manufacturing, and engineering footprint expansions, hiring and other developments across all business domains.”
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“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 E mobilityand 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, the acquisition of WABCO bolsters our 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.”
The Refresh India four-point strategy revolves around four key areas and supports the strategic repositioning of the unique ZF brand identity in the country. The journey of ZF Group in India has evolved significantly over the last few decades. The new and evolved brand identity of the Group in the region will be accurately represented in this new phase through the Refresh India four-point strategy growth areas.
The entire announcement, with specifics about the four points, can be viewed by clicking HERE.