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On June 26th, ZF Group, one of the world's top 500 companies, officially started construction of ZF Drive Technology (Hangzhou) Co., Ltd., a 17th subsidiary company in China.
ZF (Hangzhou) Co., Ltd. is a wholly-owned subsidiary of the German ZF Group. It was established in 2005 with a total investment of US$19.26 million and a registered capital of US$7.71 million. It manufactures and sells self-operated (hand) gearboxes for commercial vehicles and related Products and components, with an annual output of 35,000 heavy-duty commercial vehicle gearboxes, and major customers are Chinese automakers. The company's goal is that by 2010, ZF (Hangzhou) will occupy an important position in the Chinese market.
Wolf鄄gang Vogel, Group Executive Officer of ZF Group’s Executive Vice President, Commercial Vehicles and Special Drive Systems, said that the rapid development of China’s commercial vehicle market is accompanied by a long period of time in China’s commercial vehicle transmission market. It will also continue to expand capacity. Today, 12-speed and 16-speed synchronous gearboxes are increasingly needed by more automotive manufacturers. Therefore, the Group will bring the most advanced products to China and build ZF (Hangzhou) Company into a leading company in China. “If we want to achieve our goal, win customers and occupy the market, we will only achieve localization in the local area,†said Vogel.
Joachim Holzner, general manager of ZF (Hangzhou) Co., Ltd. also stated at the ceremony that they will also manufacture gearboxes for light commercial vehicles in the near future.
Investors of ZF Transmission Technology (Hangzhou) Co., Ltd. The German ZF Group, founded in 1915, is a world-renowned automotive transmission technology and chassis supplier whose products include transmissions, operating systems, chassis components and bearing systems. ZF Group has 125 plants in 26 countries and employs nearly 54,500 employees. In 2005, it had sales of 10.8 billion Euros. It ranked third among German auto parts suppliers and ranked 15th among global auto manufacturers. Bit.
ZF produces commercial vehicle gearboxes in China