ZF, the renowned component maker is planning to make India its global hub. Given the easy availability of raw materials in the country, plus the affordable labour, ZF is looking to invest more than Rs 1700 crore into the Indian market. ZF provides the transmission for Mahindra Formula E cars and hence the German manufacturer is keen on providing this technology to possible customers. The electronics as well as the motor too are something that ZF is an expert in and keen to provide for the future of electric mobility in the country. The Formula E happens to be the ultimate for both man and machine. In the varying terrains, the components are used to ensure they provide the best range as well as stay reliable under trying conditions. ZF, which recently acquired WABCO, is also keen to supply to the commercial space in India.
“In this next phase of growth, we will also continue to leverage India as a global sourcing hub across four areas: R&D majorly focusing on software development, IT & Digital Innovation, Manufacturing and Material Sourcing,” Dr. Klein, ZF Member of the Board responsible for Asia Pacific and India emphasised. ZF aims to bring in affordable yet high quality components to the Indian market through localisation. The plan also includes research & development, IT & digital innovation, manufacturing & material sourcing. The company claims that substantial progress has been made in the recent past to utilise the Indian supplier base for child part requirements for the various divisions. ZF will continue to use India’s manufacturing capabilities by setting up a new manufacturing facility in Chennai along with plans to increase the utilisation of other facilities.
Holger Klein, said” 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. This includes an intensive plan to rapidly grow our business in one of the largest automotive markets in the world. We plan to invest around 200 million Euros in the next few years to aid this growth through product launches, manufacturing and engineering footprint expansions, hiring and other developments across all business domains.”
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