ZF, a German auto component company, wants to return to its previous sales high of €400 million in 2022 for its commercial vehicle division in India, and it has set an ambitious goal of growing by two and a half times to $ 1 billion by the end of the decade.
In India, the Group has committed over €200 million over the next decade for the commercial vehicle division, and it will be establishing a new manufacturing site in Oragadam, on the outskirts of Chennai, which has been chosen to be eligible for the Government of India’s production linked incentive scheme.
Williem Rehm, Member of Board of Management and the global head of the Commercial Vehicle Solution Division at ZF said, India is a very important market and it employs 6500 people in India across all businesses. For the CV division alone, it has hired 300 software engineers who are doing a critical role on the future of mobility and the company is in the process of setting up a new plant to grow in this decade.
