ZF invests 2 billion euros into R&D
The automobile supplier ZF has announced a further expansion of their research and development work. This time, they plan to invest more than 2 billion euros. A large part of that sum is to go into electric drive systems.
Specifically, ZF is planning to develop electric propulsion systems and the hybridization of transmission technology, alongside safety systems for vehicles. They also plan to look into autonomous driving technology.
The company also plans to set up two new factory for the production of components for electric motors. Furthermore, ZF chairman Wolf-Henning Schneider, at the annual financial press conference, said the investment would bring the R&D budget from its current 6.1% to about 6.5%.
A joint venture is planned for autonomous electric minibuses in Aachen, one is planned for electric forklifts, as well as one for electric micromobility.
ZF also plans to set up a joint enterprise in China for the production of components as well as a strategic partnership with the Italian electric motor specialist ZAPI.