The joint venture will operate under the name Wolong ZF Automotive E‑Motors Co Ltd. and will manufacture electric motors and components for use in ZF driveline systems as well as serve the open market
ZF Friedrichshafen AG and China’s Wolong Electric Group Co. Ltd have announced to set up a joint venture that will boost electric vehicle development. Named Wolong ZF Automotive E‑Motors Co Ltd., the JV entity will manufacture electric motors and components for use in ZF driveline systems and the open market.
Electrified drivelines contribute significantly to reduce CO2 emissions from road traffic. Thus, the partnership will enhance ZF’s product portfolio and further improve competitiveness in electric driveline systems. The JV will be headquartered in Shangyu, Zhejiang Province, China to provide optimal access to the local market, leverage joint purchasing potential and focus on future business, stated the company.
Dr. Holger Klein, Member of Board of Management, ZF Friedrichshafen AG, said the JV will help serving the local market better, without any significant delay in the decision-making process.
Jian Cheng Chen, Chairman of Wolong Electric, said the partnership with ZF will be aiming to provide motors and associated components for ZF as well as the general market.
By 2025, the new joint venture company is expected to employ up to 2,000 staff.