Frankfurt am Main/Friedrichshafen. ZF has agreed on a joint venture with BHAP, a subsidiary of Chinese automotive company BAIC (Beijing Automotive Industry Corporation). The objective of the planned joint venture is to produce components for electromobility in China.
“China is the largest and most dynamic market for electromobility and is playing a key role in the rapid spread of this promising drive technology,” explains ZF Production Director Michael Hankel. “We are pleased that BAIC Group is deepening its cooperation with us, which has already lasted for three years, and will be using the comprehensive ZF product portfolio of electronic drive components in the future.”
In the presence of ZF Board Member Michael Hankel and BHAP CEO Han Yonggui, Divisional Head of ZF's E-Mobility Jörg Grotendorst and BHAP General Manager Chen Bao signed the agreement with the BAIC subsidiary at IAA in Frankfurt. “ZF has been associated with us for years and with the Chinese market for decades,” BHAP CEO Han Yonggui emphasizes. “The broad expertise of ZF, among other things in conventional as well as electric drive technology, convinces us that we will play an even more significant role in the market of electromobility in the future with this reliable partner at our side.”
ZF in the Region of Asia-Pacific and in China
Making up 22 percent of Group sales, the Region of Asia-Pacific is one of ZF’s key markets. Sales in this region amounted to approximately €7.6 billion in 2016. In China, the largest submarket of the Region of Asia-Pacific, ZF generated sales of nearly €6 billion with 13,700 employees. ZF employs more than 17,000 people in the entire region.