German firm ZF has announced an investment of about €200 million in India and consolidation of its business domains here to drive growth in the next decade.
The company is into driveline and chassis technology as well as active and passive safety,
“Despite the current severe situation regarding COVID-19 in India, the ZF Group strongly believes in the long-term growth potential of the region,” said Holger Klein, ZF Member of the Board responsible for Asia Pacific and India. “Therefore, we are launching a Refresh India four-point strategy.”
This includes an intensive plan to rapidly grow the business in the country.
“We plan to invest around €200 million in the next few years to aid this growth through product launches, manufacturing and engineering footprint expansions, hiring and other developments across all business domains,” he said.
ZF Group recently divested its shareholding interest of 49% in Brakes India to meet the Anti-Trust guidelines of CCI, post the acquisition of WABCO.
