ZF has inked a joint venture with BHAP, a subsidiary of BAIC 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,” said ZF production director, Michael Hankel.
“We are pleased BAIC Group is deepening its cooperation with us, which has already lasted for three years and will be using the ZF product portfolio of electronic drive components in the future.”
For his part, BHAP CEO, Han Yonggui added: “ZF has been associated with us for years and with the Chinese market for decades.
“The broad expertise of ZF, among other things in conventional as well as electric drive technology, convinces us we will play an even more significant role in the market of electromobility in the future with this reliable partner at our side.”
Making up 22% of Group sales, the region of Asia-Pacific is one of ZF’s key markets. Sales in the area amounted to around EUR7.6bn (US$9bn) in 2016.
In China, the largest sub-market of Asia-Pacific, ZF generated sales of nearly EUR6bn with 13,700 employees.
ZF employs more than 17,000 people in the entire region.