Cutting-Edge Report: ZF's 2024 Annual Extravaganza and Electric Plans
- ZF Showcases Statistical Data on Car Supply
Welcome to the lowdown on ZF's mind- blewin' annual shindig, happening on the 10th at high noon. Holger Klein, the brash CEO, and Michael Frick, the cunning CFO, are gonna dish out the goods—including the current fiscal year's outlook and the epic corporate game plan.
Just a few weeks back, tabloid bombshells had folks talking about ZF spinning off its powerhouse E-Division. Generating a whopping 11.5 billion euros in annual sales and employing over 32k folks, it's a hard hitter in the industry.
No sale, say ZF—just strategic partnerships on the horizon! The foundation-owned big-kahuna aims to give the powertrain division more freedom, making space for a partner to hop aboard with some cold, hard cash. A rep spoke on the matter, explaining it'd help create a stronger alliance in electric tech and driver-assistance systems.
ZF reigns supreme as one of the globe's titans of automotive supplies, boasting 169k employees at 160 outposts in 30 countries. In 2023, the gang raked in 46.6 billion euros.
Facing a brutal industry crisis, ZF's planning on chopping up to 14k jobs in Germany in the coming years. Though the economic climate remains weak, and demand for electric vehicles has been sluggish, ZF's pressin' on—buckle up!
Keep your eyes peeled for a webcast (Microsoft Teams) on the 10th, where ZF's gonna share all the juicy deets!
- Annual Report
- Holger Klein
- Friedrichshafen
- Job Cuts
- Cost-cutting measures
- Partnerships in electric mobility and electronics
Sources:
- Reuters
- Automotive News Europe
- Automotive News Europe
- All About Circuits
- At the ZF's 2024 Annual Extravaganza, Holger Klein and other executives are expected to discuss the community policy regarding the upcoming strategic partnerships in electric mobility and electronics, focusing on vocational training and cost-cutting measures.
- The upcoming strategic partnerships are planned to provide the powertrain division with the necessary resources, aiming to strengthen ZF's position as one of the titans of automotive supply, operating in 30 countries with 169k employees.
- Despite the brutal industry crisis and sluggish demand for electric vehicles, ZF has announced an outlook for 2023, anticipating revenue of 46.6 billion euros. However, the company has also announced plans to cut up to 14k jobs in Germany as part of cost-cutting measures, which will be further discussed in the forthcoming annual report.
