Interview: German ZF Group to double down on China: CEO

MUNICH, Germany, Sept. 8 (Xinhua) -- As the company's business continues to grow in China, German auto parts and components supplier ZF Group is doubling down on China, which will become a major contributor to its future growth in the Asia-Pacific region, Chief Executive Officer (CEO) Holger Klein said.

Klein made the remarks in an interview with Xinhua, conducted on the sidelines of the ongoing IAA Mobility 2023 auto show.

He said his company aims to grow the proportion of its Asia-Pacific region in its global revenue from the current 24 percent to 30 percent, "and China will be a major portion of that."

Klein considers China "a very interesting market" that is "innovation-driven," saying that the customers there are on average much younger than those in the established markets and they are open to innovation.

A lot of ZF's new products have made their world premiere in China. "We enjoy playing in that market so much, because it's very dynamic and very demanding."

Over 70 Chinese automakers participated in the IAA Mobility auto show this year, according to a spokesperson. Klein was happy to see the presence of ZF's Chinese and international customers.

Among the highlights of ZF Group at the IAA are two technologies, one on e-mobility and the other on chassis technology.

"With this magnet-free e-motor without rare earth materials, we have another innovation to consistently improve our electric drive portfolio to create even more sustainable, efficient and resource-saving mobility," Klein said.

As Chinese carmakers seek to establish themselves in the European market, they are also creating new opportunities of cooperation for ZF. Klein said that his company is in talks with such Chinese automakers. "ZF would like to cooperate along the full spectrum of products we have."