German firm ZF
expects to be a €3 billion company in India by 2030 supported by the growing domestic
market and overseas operations. ZF plans to make India a region with
decision-making power to drive the business and as a manufacturing and service
hub. The branding of ZF acquired Wabco will switch to ZF in January 2022.
Holger Klein, ZF
Member of the Board responsible for Asia Pacific and India mentioned that the
company plans to make India a region with decision-making power to drive the
business. ZF aims to achieve €3 billion in revenue from the Indian market, of
which €2 billion will be from sourcing volumes. ZF India, based in Pune,
currently accounts for 3%-5% of the Group’s turnover.
ZF recently announced an investment of about €200 million in India
and consolidation of its business domains. The investment is intended for
product launches, manufacturing and engineering footprint expansions, hiring
and other developments across all business domains.
focuses on driveline, chassis technology, active and passive safety, completed
a €7 billion acquisition of commercial vehicle technology company Wabco in
2020. The acquisition made ZF the second-largest auto supplier globally after
ZF plans to
integrate its commercial vehicle business with the recently acquired Wabco,
into one division named Commercial Vehicle Systems, which will be operational
from January 1, 2022. P Kaniappan, MD, Wabco India, said that the branding of
Wabco will switch to ZF in January 2022.
wants to establish India as a manufacturing and service hub. ZF is also trying
to consolidate its operations in India and planning to take actions against the
other companies using the same brand name that could mislead the public. One
such company is ZF Steering Gear (India) Ltd.
Source – ET Auto
Image Source: ZF Website