ZF and Wolong plan joint venture for production of electric motors and components
ZF Friedrichshafen and China’s Wolong Electric Group are stepping up their existing cooperation. The two companies have signed an agreement to establish a joint venture that will produce components and electric motors for automotive applications.
This partnership will enhance the ZF product portfolio and further improve competitiveness in electric driveline systems. The joint venture will operate under the name Wolong ZF Automotive E Motors and manufactures electric motors and components for use in ZF driveline systems and the open market.
An initial success of this partnership is the award of a major series production contract for electric motor components for hybrid and electric drives.
The joint venture headquartered in Shangyu, Zhejiang Province, China, 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.