ZF and Wolong Electric Group have officially signed off their joint venture.
The partners will develop and produce electric motors as well as electric components for various vehicle applications at the Chinese, Shenyang location, among others, working as Wolong ZF Automotive E-Motors.
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Volume production is slated to start next year. The joint venture will also supply components for the new ZF hybrid transmission.
“The joint venture with Wolong reinforces our market position and our competitive edge in China as well, which continues to be the biggest market for electromobility in the world”, said ZF E-Mobility Division head, Jörg Grotendorst.
“As we’re already using the available capacities for production and development on-site, we can start operations immediately.”
ZF holds a 26% share in the joint venture. Wolong has been a supplier for the ZF E-Mobility Division in China since 2018 and in November, 2019, the partners agreed to start a joint venture.
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By GlobalDataVolume production for Wolong ZF Automotive E Motors venture has been slated to start in the Chinese market in 2021.
“Founding Wolong ZF Automotive E-Motors also opens up a global perspective for us”, added Wolong Electric chairman, Jiancheng Chen.
“We want to make this joint venture a global market leader for vehicle motors which use sustainable sources of energy.”
To back the ambition, plans have been made to open other locations in the EU and North America. By 2025, around 2,000 employees are expected to work in production and development for Wolong ZF Automotive E Motors.
