Recently, we learned from relevant sources that ZF and the Management Committee of Shandong Rizhao Economic and Technological Development Zone held a signing ceremony. ZF will invest and build a factory in Rizhao City, with a total investment of 60 million euros. It is planned to start production and achieve sales by the end of 2022. It is expected that in three years, the annual output value will exceed 1 billion yuan.
It is reported that the project plant covers an area of 14,000 square meters and will cover the research and development, production and sales of airbags and other products. The products will mainly meet the needs of the domestic market, and will also be directly or indirectly exported to Thailand, South Korea, the United States, Japan, Vietnam and other countries.
At present, ZF Group Asia-Pacific Passive Safety Division has eight factories in China, located in major automobile production bases in China, mainly producing steering wheels, airbags and seat belts and other automotive occupant safety system products, as well as driving monitoring at the forefront of technology Integrated steering wheel, multi-function integrated driver airbag, overhead airbag, remote airbag, active control seat belt, force-limiting belt buckle lock, pedestrian protection jack and other products and related parts. Sales in 2021 will be 4.8 billion yuan.