ZF invest in China – adding new production capacity
ZF’s investment in China continues to grow, as the company’s subsidiary in Shanghai – ZATS has singed a new agreement with the Shanghai Anting Economic Development Center to expand the production capacity of electric power steering systems (EPS) in Shanghai.
With a total investment of RMB 320 million (about 44.4 million Euros) for the first phase of the newly signed project, ZF will expand the current plant area by approximately 4,000 square meters in the town of Anting, Shanghai, to increase production capacity of EPS products. The project is scheduled to go operational in mid-2023. By 2024, sales from the newly added EPS business are expected to grow by more than RMB 1 billion (about 139 million Euros) when compared with
that of 2022.
“Known as the International Auto City, Anting is an important base for ZF Group's presence in the Asia-Pacific region. We have successively built our technology center and a number of plants here, which strongly support ZF’s Asia-Pacific and global businesses,”said Ms. Renee Wang, President of China and Senior Vice President Operations Asia Pacific, in a press release.
ZATS includes the ZF Anting Technology Center and an automotive electric power steering manufacturing plant, which is mainly engaged in the development of products and technologies such as automotive active safety systems (braking and steering), passive safety systems,
electronic and advanced driver assistance systems and vehicle motion control systems, as well as production of automotive electric power steering.