Ad
Ad
Ad
Ad
© ZF Friedrichshafen Electronics Production | November 20, 2019

ZF and Wolong Electric form JV for electric motors

ZF Friedrichshafen and China’s Wolong Electric Group are stepping up their existing cooperation. The two companies have signed an agreement to establish a joint venture that will produce components and electric motors for automotive applications.

The joint venture will operate under the name Wolong ZF Automotive E Motors Co Ltd. and will manufactures electric motors and components for use in ZF driveline systems and the open market. “The partnership with Wolong, a key player of electric motors and components in the Chinese market, is a great next step in further strengthening our electric mobility strategy. With the joint venture we extend our value chain for electric motors to include sub-components and it gives us even better access to customers and suppliers in China,“ says Jörg Grotendorst, Head of ZF’s E-Mobility Division, in a press release. The JV starts of with an initial success by having being awarded a major series production contract for electric motor components for hybrid and electric drives. The joint venture headquartered in Shangyu, Zhejiang Province, China, will provide optimal access to the Chinese market, leverage joint purchasing potential and focus on future business. By 2025, the company is expected to employ up to 2'000 employees. "We are certain that new energy vehicles will take a very large share in the future market, and this will bring unprecedented development opportunities for both of us. The joint venture company with ZF will be the first step, aiming to provide motors and their components for ZF and the general market. We hope that this joint venture will become a global leader in new energy automotive motors,” says Jian Cheng Chen, Chairman of Wolong Electric. Since January 2016, ZF has bundled its electromobility activities in the E-Mobility Division headquartered in Schweinfurt, Germany. More than 9,000 employees work in this division, spread across various locations around the world.
Load more news
December 12 2019 10:59 am V14.8.5-2