ZF Group and Foxconn partner in passenger car chassis systems

Foxconn (Hon Hai Technology Group) will acquire a 50-percent stake in ZF Chassis Modules GmbH, a unit of ZF Group which bundles the passenger car axle systems assembly and has an enterprise value of approximately €1 billion (approximately US$1.1 billion), enabling a strategic partnership that will further grow opportunities for ZF Chassis and widen new perspectives for Foxconn in the automotive sector. The partnership will leverage each other’s capabilities and expand the range of product offerings in the internal combustion engine and especially electric vehicle (ICE/EV) space.

The enterprise value of ZF’s business unit is approximately €1 billion (approximately US$1.1 billion) or more. ZF and Foxconn expect the JV agreement to be effective within six to nine months after signing and following regulatory approvals. ZF Chassis Modules GmbH, serving global premium and volume car manufacturers, is represented at 25 locations worldwide. It has approximately 3,300 employees, of which 100 are in Germany. The business unit’s sales are expected to exceed €4 billion (US$4.5 billion) in 2023.

Stellantis and Hon Hai Technology Group (Foxconn) announced the creation of SiliconAuto, a 50/50 joint venture dedicated to designing and selling a family of state-of-the-art semiconductors to supply the automotive industry, including Stellantis, starting in 2026. The joint venture combines Foxconn’s development capabilities and domain expertise in the ICT industry with Stellantis’ deep understanding of diverse…

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