ZF doubles down on India with renewed vigor

• Investment plan of around 200 million Euros to grow India business
• Consolidation of businesses by expanding the wholly owned subsidiaries and capitalizing on the capabilities of joint venture partners
• Recent acquisition of WABCO further boosts the value proposition of ZF for the Indian Commercial Vehicle industry and provides a unique advantage to transfer know-how to other business segments  
• ZF’s partnership with Mahindra Racing in Formula E demonstrates keen interest of the Group to closely collaborate and co-develop advanced technologies with the OEMs in the region
• Refresh India four-point strategy built on 4 key areas: Restructure, Readapt, Reinforce, Retain
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Pune, June 29^th, 2021: 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.

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.

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 mobility and 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,” Dr. Klein emphasized.

The Refresh India four-point strategy revolves around 4 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.

Readapt:

Through higher levels of localization and a strong thrust on design-to- market-solutions. ZF aims introduce advanced global technological solutions at an affordable value for the Indian market.

Reinforce:

India will become a global hub for worldwide requirements across Research & Development, IT & Digital Innovation, Manufacturing & Material sourcing. Substantial progress has been made in the recent past to utilize the Indian supplier base for Child part requirements for the various divisions. ZF will continue to leverage India’s manufacturing capabilities by expanding its footprint in the country. The Group will set up a new manufacturing facility in Chennai along with plans to increase the utilization of other facilities.

Retain:

Having won the distinction of Great Places to Work. ZF Group will continue to set high standards for performances in the areas of safety, quality and sustainability. ZF will continue to unlock its innovation power in the region by investing in the overall development of its employees.

Restructure:

ZF Group divested its shareholding interest of 49% in Brakes India to meet the Anti-Trust guidelines of CCI, post the acquisition of WABCO. Furthermore, ZF Group is a majority stakeholder of WABCO India and is undertaking necessary next steps to ensure all regulatory guidelines are being adhered to. The integration of WABCO into the ZF Group is well underway and is expected to be completed by the end of the year as planned.

ZF Photo Captions

1. Dr. Holger Klein ZF Member of the Board responsible for Asia Pacific and India
2. ZF Refresh India four-point strategy
3. ZF journey in India
4. ZF India Facts & Figures

About ZF

ZF is a global technology company suppling systems for passenger cars, commercial vehicles and industrial technology, enabling the next generation of mobility. ZF allows vehicles to see, think and act. In the four technology domains of Vehicle Motion Control, Integrated Safety, Automated Driving, and Electric Mobility, ZF offers comprehensive product and software solutions for established vehicle manufacturers and newly emerging transport and mobility service providers. ZF electrifies a wide range of vehicle types. With its products, the company contributes to reducing emissions, protecting the climate and enhancing safe mobility.

In fiscal year 2020 ZF reported sales of €32.6 billion. The company employs more than 150,000 associates at approximately 270 locations in 42 countries.

For further press information and photos, please visit: www.zf.com