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Foundation piling on ZF鈥檚 project nearly complete
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The pile foundation work for ZF鈥檚 expansion project in Jiading District is nearly complete.
In early August, ZF Automotive Technologies (Shanghai) Co Ltd, a company specializing in auto parts research and production, signed an investment agreement with Shanghai Anting Economic Development Center to expand the product varieties and capacity of the Electronic Power Steering system (EPS). The first phase of the project would cost 320 million yuan (US$46.18 million).
The two-story workshop has a total construction area of approximately 4,000 square meters. According to Huang Xinlin, the project鈥檚 construction manager, the main structure is expected to be completed by January 1, 2023, and the new facility will begin production in the second half of next year.
Kang Yinghua, general manager of ZF Automotive Technologies, said that the project鈥檚 main purpose would be to work on the automatic driving function of smart vehicles for better driving experience and enhanced safety while also lowering energy consumption by improving the dynamic and static performance of the vehicles.
鈥淲ith this new project, we expect our annual EPS sales to increase by over 1 billion yuan in 2024 compared to that of 2022,鈥 Kang said.
Kang said the group will increase its investment in China with a focus on the development of new-energy vehicles as well as auto parts of intelligent vehicles.
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