ZF & Wolong Electric Group enter joint venture for e-motors and components
March 14, 2020
Due to the travel restrictions imposed by coronavirus, a live-streamed signing ceremony was held featuring Dr Andreas Fink, Head of Product Line Electric Drivelines, ZF and Jörg Grotendorst, Head of Division E-Mobility in Schweinfurt, Germany (left) and Jiancheng Chen, CEO of Wolong Electric, in Shenyang, China (right) (Courtesy ZF Friedrichshafen AG)
ZF Friedrichshafen AG, Friedrichshafen, Germany, and Wolong Electric Group Co., Ltd., Shenyang, China, have signed a joint venture agreement to develop and produce electric motors and electric components for vehicle applications. Working under the name ‘Wolong ZF Automotive E-Motors Co. Ltd.’, the joint venture is expected to supply components for the new ZF hybrid transmission.
ZF holds a 26% share in the joint venture with Wolong, which has been a supplier to ZF’s E-Mobility Division in China since 2018. Volume production for the Wolong ZF Automotive E Motors Co. Ltd. is slated to start in the Chinese market in 2021.
“The joint venture with Wolong reinforces our market position and our competitive edge in China as well, which continues to be the biggest market for electromobility in the world,” stated Jörg Grotendorst, Head of ZF’s E-Mobility Division. “As we’re already using the available capacities for production and development on-site, we can start operations immediately.”
Jiancheng Chen, Chairman of Wolong Electric, commented, “Founding Wolong ZF Automotive E-Motors Co Ltd. also opens up a global perspective for us. We want to make this joint venture a global market leader for vehicle motors which use sustainable sources of energy.”
The joint venture will produce electric vehicle parts and components at Wolong’s Shenyang plant and in other locations. According to the partners, plans have been made to open further facilities in the EU and North America in future, and by 2025, Wolong ZF Automotive E Motors expects to employ 2,000 staff in production and development.
