Friedrichshafen AG, a renowned component maker, has announced its plans to make
India its global hub and invest Rs 17 billion in the country. The easy
availability of raw materials and affordable labour are major plus points for
Dr Holger Klein,
ZF Member of the Board responsible for the Asia Pacific and India, mentioned
that the company would continue to leverage India as a global sourcing hub for
research and development (R&D) focusing on software development, IT and
Digital Innovation, Manufacturing and Material Sourcing.
He added that
despite the poor market conditions in India, due to COVID-19, the ZF Group
strongly believes in the long-term growth potential of the region. The company
will be launching a Refresh India four-point strategy which includes an
intensive plan to grow its business.
claimed that it had made substantial progress in the recent past to utilise the
Indian supplier base for child part requirements for the various divisions. ZF
will set up a new manufacturing facility in Chennai to make use of India’s
ZF, which provides the transmission for Mahindra Formula E cars, is
keen on providing the technology to possible customers. ZF recently acquired WABCO and is eager to supply
to the commercial space in India.
Source – Express Drives
Image Source: ZF Website