"The joint venture with Wolong also strengthens our market position and competitiveness in China, which continues to be the largest market for electric mobility worldwide," says Jörg Grotendorst, head of ZF's E-Mobility Division. ZF - like its Chinese partner - already has activities for "Using development and production. Therefore, the JV can now start operations immediately. ZF holds 26 percent of the shares in the joint venture. Wolong has been a supplier of the ZF E-Mobility Division in China since 2018.
In the Chinese market, Wolong ZF Automotive E-Motors Co. Ltd. plans to start volume production in 2021. The founding of the JV also has a global perspective for the partners. It is planned to make the joint venture a global market leader for vehicle engines with sustainable energy sources, said Jiancheng Chen, Chairman of Wolong Electric. Therefore, the opening of additional locations in the EU and North America is planned. By 2025, Wolong ZF Automotive E- Motors Co Ltd. will have approximately 2,000 employees working in development and production.