"We will double our efforts" - Interview with Ko Haozhe, Chairman of the Board of Directors of ZF Group in Germany, to discuss new opportunities for the Chinese economy | Exclusive interview: "In China
Munich, Germany, September 11th (Xinhua) - "In China, we will double our efforts" - Interview with Ko Haozhe, Chairman of the Board of Directors of ZF Group in Germany
Xinhua News Agency reporter Shan Weiyi
Ko Haozhe, Chairman and CEO of ZF Group, a well-known German automotive parts manufacturer, said in an interview with Xinhua News Agency at the 2023 German International Auto and Smart Mobility Expo that as the group's business in China continues to grow, ZF will double its efforts to develop in China, and China will continue to be a major contributor to business growth in the Asia Pacific region.
According to ZF's financial report for the first half of 2023, sales in the Asia Pacific market, mainly in China, exceeded 5.2 billion euros, a year-on-year increase of 16%. The Asia Pacific business accounts for about a quarter of the group's global business. "We expect the Asia Pacific region's share to increase to 30% by 2030, and China is the main driving force for business growth in the Asia Pacific region," said Ko Haozhe.
"China is very important to us," he said. "We are very actively participating in the Chinese market, especially focusing on aligning with the development speed of local car manufacturers."
In the first half of this year, ZF launched multiple new projects in Shenyang, Weihai, Shanghai, Wuhan, and Guangzhou. "If you ask what has led to our business growth in China, it is that we place great emphasis on localization and are very close to our customers. In China, ZF will continue to double its efforts."
"What does' relying on China 'mean? Looking at the size of China's market, you will want to establish a foothold here." Ke Haozhe said that the automotive industry not only needs to rely on China to achieve economies of scale, but also needs to promote Chinese research and development technology to the world.
Ko Haozhe introduced that China has become one of the important bases for ZF's global product and technology mass production. One of ZF's core technologies, the 800V silicon carbide electric drive, is the world's first mass production and implementation in China.
He believes that China is an innovation driven market, and Chinese consumers are young and willing to accept innovation. "It's not easy to succeed in the vibrant and high standard Chinese market, but we will do our best."
The 2023 German International Automobile and Smart Mobility Expo will be held in Munich, Germany from the 5th to the 10th. At the expo, ZF highlighted important innovative products in electric drive technology and wire control technology. Ke Haozhe said, "We are constantly improving our electric drive product portfolio to create more sustainable, efficient, and resource efficient modes of transportation."
He said that Chinese car manufacturers have brought a series of highly attractive models to the European market, which has created new opportunities for ZF to cooperate with Chinese car companies. ZF is currently in contact with some Chinese car companies and hopes to further develop cooperation.