German ZF and Chongqing Electromechanics Open up Transmission Market

The Chongqing Forum on “Scientific Development and Social Responsibility” sponsored by the Development Research Center of the State Council and the Chongqing Municipal People's Government was held at the Chongqing Jinyuan Hotel. During the period, two signing ceremonies for “Two Rivers New District, Two Wings Districts and Counties, People's Livelihood Construction Project” and “Foreign Mergers and Acquisitions, and Strategic Cooperation Projects” were held at the same time. Bo Xilai, Member of the Political Bureau of the CPC Central Committee, Bo Xilai, Secretary of the Chongqing Municipal Party Committee, Zhang Yutai, Director of the State Council Development Research Center, and Party Committee Secretary, Shao Ning, Deputy Director of the State-owned Assets Supervision and Administration Commission of the State Council, and Party Committee Member, Huang Qifan, Deputy Secretary of Chongqing Municipal Committee and mayor of the municipal government assisted The guests attended the signing ceremony and a total of 67 cooperation projects signed the intention and contract.

At the signing ceremony, Kfs Billetter, CFO of ZF Asia Pacific Region, Klaus Billetter, Vice President of ZF (China) Investment Co., Ltd., and Xie Huajun, Chairman of Chongqing Electromechanical Holdings (Group) Company, were particularly pleased because since the initial contact, both parties have The cooperation and consultation has been over 15 years and it has finally settled. The cooperation agreement mainly covers the joint venture of ZF and Qijiang Gear Transmission Co., Ltd. to establish a commercial vehicle transmission plant.

ZF is a world-leading supplier of automotive chassis and transmission technology. Its business scope covers passenger vehicles, commercial vehicles, construction machinery, and ships. In commercial vehicles, especially commercial vehicle automatic transmission products ranked the top three in the world. Since ZF entered China in the past 30 years, it has a regional headquarters with R&D centers, 20 manufacturing companies, and 2 sales service companies, and has won a lot with high-quality products, professional services, and rapid matching and response capabilities. Good market reputation, gratifying results. The same as the giant in the field of automotive transmission, Qijiang Gear Transmission Co., Ltd. is affiliated to Chongqing Electromechanical Holdings (Group) Co., Ltd. The predecessor of the Minjiang Gear Factory is a large-scale backbone enterprise of automobile gear with an 80-year history. Through digestion and absorption of advanced technologies introduced from abroad, a spectrum of commercial vehicle transmission products with independent intellectual property rights has been formed. The market share of medium- and heavy-duty commercial vehicles has reached more than 7%, and the market leaders of large and medium-sized passenger vehicles have taken the lead. The joint venture between ZF and Caries can be described as a strong alliance, which will surely play a significant role in driving the commercial vehicle market in China.

As a frontline for the development of the western region, in recent years, the Chongqing Municipal Government has attached great importance to the introduction of foreign investment and optimization of its structure. “We are extremely excited and excited in such an environment full of opportunities. Through joint ventures and cooperation, we have made traditional Chinese companies The fist brand 'Equip China and go to the world' will be our unrelenting pursuit of goals!” Xie Huajun said after signing the ceremony.

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