ZF Friedrichshafen and China’s Wolong Electric Group have established a joint venture to produce components and electric motors for automotive applications. The joint venture will operate under the name Wolong ZF Automotive E‑Motors Co Ltd and will be headquartered at Shangyu, Zhejiang Province, China. It will provide optimal access to the Chinese market, leverage joint purchasing potential and focus on future business. By 2025, the company is expected to employ up to 2,000 staff.
“The partnership with Wolong, a key player of electric motors and components in the Chinese market, is a great next step in further strengthening our electric mobility strategy. With the joint venture, we extend our value chain for electric motors to include sub-components and it gives us even better access to customers and suppliers in China,“ says Jörg Grotendorst, Head of ZF’s E-Mobility Division.
Jian Cheng Chen, Chairman of Wolong Electric, said, “We are certain that new energy vehicles will take a very large share in the future market, and this will bring unprecedented development opportunities for both of us. The joint venture company with ZF will be the first step, aiming to provide motors and their components for ZF and the general market. We hope that this joint venture will become a global leader in new energy automotive motors.”
Dr. Holger Klein, Member of Board of Management, ZF Friedrichshafen AG, said, “Agreement to deepen our partnership with a Chinese company and establish a new joint venture to dedicate in the production contract for electric motors, is one of our solid steps in realizing our commitment to investing in China, and our determination to make ZF a significant contributor in the electrification and sustainable mobility in this market.”