ZF's Powertrain Division: Exploring Partnerships, Not Selling
ZF separates its driveline division - No impending purchase announced - Power generation unit divests: No planned transactions for ZF's energy facility
Hey there! 🤘 Let's talk about ZF, a heavyweight in the automotive industry with over 169,000 employees at 160 locations across 30 countries. You might've heard that they're stirring things up in their powertrain division.
Here's the scoop:
- No Sale on the Horizon: Contrary to some rumors, ZF has no plans to sell off their powertrain division. A spokesperson confirmed this from their HQ in Friedrichshafen, located on beautiful Lake Constance.
- Bid for Independence: Instead, they're aiming to make the division self-sufficient. This would enable a potential partner to invest and ramp up the division's market presence.
A few weeks back, speculation swirled around a potential spin-off of ZF's core "E-Division." This division encompasses not just electric powertrains but also conventional and hybrid ones. The division pulls in over 11.5 billion euros annually and employs more than 32,000 people.
During a recent works council meeting, Mathias Miedreich, the responsible board member at ZF, shared some potential strategies to reinvest in economic success with the Friedrichshafen workforce. One of these strategies is exploring partnerships to strengthen the areas of conventional, hybrid, or even purely electric powertrains. No final decisions have been made yet, but ZF is readying its powertrain division for potential partnerships.
And for those curious, ZF reached a whopping 46.6 billion euros in revenue in 2023. Impressive, right? 🌟
Stay tuned for more updates on this interesting move in the automotive industry! 🚗💡😊
- ZF's Powertrain Division, headquartered in Friedrichshafen, has no plans to sell off, contrary to some rumors, but aims to become self-sufficient for potential partners to invest and increase its market presence.
- Mathias Miedreich, a responsible board member at ZF, shared strategies to reinvest in economic success at a recent works council meeting, including exploring partnerships to strengthen areas like conventional, hybrid, or purely electric powertrains.
- The division, named the E-Division, encompasses not just electric powertrains but also conventional and hybrid ones, pulling in over 11.5 billion euros annually and employing more than 32,000 people.
