On August 15, 2018, ZF (China) investment co., LTD., in ZF transmission technology (hangzhou) co., LTD., and xiaoshan economic development zone management committee jointly signed by ZF hangzhou electric project strategic cooperation agreement. Projects with a total investment of about $150 million, will introduce differential automated assembly line, the new plant, and introduce electric production line in the electric product production and sales, is expected to project reaches producing the year after production capacity can reach 400000 units.

By ZF high-level and xiaoshan economic and technological development zone leaders attended the signing ceremony. ZF, senior vice President, Asia Pacific chief financial officer Wang Runyi at the signing ceremony, said: "as the pioneer of auto parts industry, mining ZF's emphasis on China's new energy vehicle market there is no doubt that electric business has become one of the strategic development of center of gravity zf-group. Factories in hangzhou of the production and sale of electric project and we are committed to the development of new energy vehicles in China one of the important measures."

"ZF electric project officially settled in, is a focal point of the transformation and upgrading of industry of hetz effectively, is also a development zone to new energy vehicles a broader field of a new starting point," xiaoshan district party committee, secretary of the party working, xiaoshan development zone management committee of the standing committee, chien-hung yeh said, "we will continue to fully support and good service by ZF transmission technology (hangzhou) co., LTD., the development of win-win situation."

↑ ZF, senior vice President, Asia Pacific chief financial officer Wang Runyi (middle), ZF transmission technology (hangzhou) co., LTD., general manager of Karl - Ingo Dr Schmidt (left) and deputy director of the party working committee, management committee of xiaoshan economic and technological development zone Zhou Wucan (right) after signed a strategic cooperation agreement

Over the years, by ZF hangzhou xiaoshan development zone management committee and has always maintained good relations of cooperation. By ZF transmission technology (hangzhou) co., LTD. In 2005, located in xiaoshan district, covers an area of more than 37000 square meters, the main products of the electric project starts mainly includes passenger car axle drive unit, drive motor, etc.

With the steady progress of the project, ZF will step by step to complete the $150 million investment, including equipment investment accounted for about $100 million. These investments not only contains several assembly line; The follow-up will also establish a high degree of complex mechanical processing workshops.