ZF forms chassis joint venture with Beijing Auto
German supplier ZF Friedrichshafen AG established a joint venture with Beijing Automotive Industry Corp. to build chassis parts for passenger vehicles in a suburb of Beijing.
German supplier ZF Friedrichshafen AG established a joint venture with Beijing Automotive Industry Corp. to build chassis parts for passenger vehicles in a suburb of Beijing.
The 10 million euro (77 million yuan, $12.7 million) partnership will be 51 percent owned by ZF, with the remaining stake owned by BAIC.
It is scheduled to open in 2016, and initially will produce 200,000 front- and rear-chassis modules.
ZF has supplied chassis parts to Beijing Benz Automotive Co., BAIC's joint venture with Daimler AG, for many years. According to ZF, the new partnership will supply components to BAIC and its other joint ventures.
BAIC builds cars under its own brands. It also has passenger vehicle joint ventures with Daimler AG and Hyundai Motor Co.
ZF opened its first plant in China in 1994, and it currently operates 25 factories in the country. Last year, its China sales totaled 2 billion euros (15.5 billion yuan).
The 10 million euro (77 million yuan, $12.7 million) partnership will be 51 percent owned by ZF, with the remaining stake owned by BAIC.
It is scheduled to open in 2016, and initially will produce 200,000 front- and rear-chassis modules.
ZF has supplied chassis parts to Beijing Benz Automotive Co., BAIC's joint venture with Daimler AG, for many years. According to ZF, the new partnership will supply components to BAIC and its other joint ventures.
BAIC builds cars under its own brands. It also has passenger vehicle joint ventures with Daimler AG and Hyundai Motor Co.
ZF opened its first plant in China in 1994, and it currently operates 25 factories in the country. Last year, its China sales totaled 2 billion euros (15.5 billion yuan).