ZF Friedrichshafen AG, a leading automotive supplier, and Foxconn, the world's largest electronics manufacturer, have formed a 50/50 joint venture called ZF Foxconn Chassis Modules to leverage expansion opportunities in the global market for axle system assembly and new customer access.
The JV combines ZF's engineering competence and Foxconn's global network and supply chain management expertise, aiming to secure presence in growth segments and engage in future markets. The venture, headed by ZF Executives Eike Dorff and Urs Rienhoff, strives to adapt to markets and contractual partners through continuous process optimization.
With an enterprise value of about $1.1 billion, ZF Foxconn Chassis Modules supplies global premium and volume manufacturers, and employs approximately 3,800 people, with nearly 100 based in Germany. The division's sales for 2023 amounted to about $4.7 billion.
