ZF Plans To Invest EUR 200 Million To Stimulate Growth In India Over 10 Years
- ByStartupStory | June 29, 2021
German automotive parts maker ZF plans to invest around EUR 200 million and strategically strengthen its business to expand its growth over the next decade as it looks to double down its focus on India. The company has also said it’s a ‘Refresh India strategy’ which revolves around four key areas – readapt, reinforce, retain and restructure — and supports the strategic repositioning of the ZF brand identity in the country, will aid its growth plans.
A global leader in driveline and chassis technology, among others, ZF has been in India for more than five decades, operating through eight entities, two wholly-owned subsidiaries, five JV partners, along with 14 manufacturing locations as well as a technology center in Hyderabad. “ZF is doubling down its focus in India through a significant investment of around EUR 200 million and strategic consolidation of its business domains with renewed impetus to drive growth over the next decade,” the company said in a release.
“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,” said Holger Klein, ZF Member of the Board responsible for Asia Pacific and India, at ZF.
ZF has announced the successful completion of WABCO acquisition last year. WABCO is a global supplier of primarily pneumatic braking control systems, technologies and services. Besides, it also supplies fleet operators with fleet management solutions and diagnostic tools among other services. ZF enjoys a leading position across various technology solutions in automotive and non-automotive business segments, as a preferred partner of choice.
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