The signing ceremony for ZF's automobile airbag production base and a research and development center project is on July 21. [Photo provided to en.whkfq.gov.cn]
On the morning of July 21, the Fortune 500 company ZF Group signed an agreement with the administrative committee of the Wuhan Economic & Technological Development Zone (WEDZ), announcing an additional investment of 150 million euros ($166.5 million) to establish an automobile airbag production base and a research and development center.
This project aims to create ZF Group's most extensive airbag production base in the Asia-Pacific region and a center for the trial production of new airbag prototypes.
ZF Group is a global technology company supplying systems for passenger cars, commercial vehicles, and industrial technology, enabling the next generation of mobility.
As one of the world's top three automotive component suppliers, the group covers a wide range of products, including automotive chassis systems, components, safety technologies, electronic devices, and sensor technologies. It plays a significant role in both China's and the global automotive industry and supply chain.
The logo of ZF Group is seen on a flag. [Photo provided to en.whkfq.gov.cn]
ZF Group has invested in the Wuhan Economic and Technological Development Zone for over 10 years. In 2011, ZF Group established its Wuhan branch in the zone. In 2021, it became a wholly-owned subsidiary of ZF Asia-Pacific Group, expanding its business scope to the research, production, and sales of passenger car chassis systems, braking systems, and passenger safety systems.
In recent years, WEDZ has taken practical measures to enhance the resilience and risk resistance of the automotive industrial supply chain, actively driving the transformation and upgrading of the automotive industry towards new energy and intelligent connected vehicles.
The ZF Group's safety airbag production base project, once put into operation, is expected to generate an annual output value exceeding 3 billion yuan ($420 million).
