Berline: German auto parts maker ZF group will invest around € 200 million in India to double its focus on India and strategically consolidate its operations to drive growth over the next decade, announced by the company.
ZF member of the board responsible for the Asia Pacific and India Holger Klein said, “Despite the current severe situation regarding covid-19 in India, the ZF group strongly believes in the long-term growth potential of the region.”
Klein adding to it said that therefore we are launching a refresh India four-point strategy.
Further, Klein said, “We plan to invest around €200 million in the next few years to aid the growth through product launches, manufacturing and engineering footprint expansions, hiring and other developments across all business domains.”
As per the report, the investment will include an intensive plan to rapidly grow the business in the country. Moreover, the company is into driveline and chassis technology as well as active and passive safety.
Recently, ZF group disinvested its shareholding interest of 49 per cent in Brakes India to meet the Anti-Trust Guidelines of CCI, post the application of WABCO.
Inputs: The Hindu