Taiwanese electronics manufacturer Hon Hai Technology Group, better known as Foxconn, and automotive component manufacturer ZF Group have announced a strategic partnership that will see Foxconn acquiring a 50% stake in ZF Chassis Modules, the group’s axle system assembly unit.
In a statement, both companies said the deal, which values ZF’s Chassis Modules division at one billion euros (RM5.06 billion), will allow them to leverage on each other’s capabilities and expand the range of product offerings in the internal combustion engine and electric vehicle space.
“With this step, we are implementing our strategy to grow specific business areas of ZF with the support of external partners beyond current limits,” said ZF CEO Holger Klein. Meanwhile, Foxconn chairman and CEO Young Liu said that the company was keen on exploring more partnership opportunities with the ZF Group in the broader transportation and mobility space.
The joint venture agreement is expected to become effective within six to nine months following the signing, pending regulatory approvals.
Foxconn’s deal with ZF is the latest in a growing line of partnerships for the Taiwanese company. Closer to home, it is collaborating with Thailand’s state-owned energy group PTT to produce electric vehicles in Thailand from 2024, and has announced plans to invest around US$250 million (RM1.2 billion) into two new projects in Vietnam for the production of components for EVs.
In 2021, it purchased a stake in Malaysian technology firm Dagang NeXchange Berhad (DNex), and the following year, announced that it was setting up a joint venture with DNex to build and operate a facility for 12-inch chips in Malaysia.
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With wider car nowadays,
1. Better invest to make Game Changing Auto Sliding Front Door,
Don’t just keep it for VIP passengers.
2. Reduce the width of Car side mirror from obstructing the motorcycles too.
Now we already have 360 camera, 360 recording camera.
Sir this news is related to vehicle axles
automotive tech intelligence and surveillance
inb4 Germany dah jual to Taiwan. Now waiting for German workers to get overworked and then 14th floor themselves but luckily for them in Germany not easy to find buildings higher than 14 floors.