2023-09-08 23:54:00
MUNICH, Germany, Sept. 8 (Xinhua) — As German auto parts and components maker ZF Group’s business in China continues to grow, the company said it will redouble its efforts in the fast-growing country. a major contributor to its future growth in the Asia-Pacific region, said Chief Executive Officer (CEO) Holger Klein.
He made the remarks in an interview with Xinhua on the sidelines of the Munich IAA Mobility 2023 auto show, which is currently taking place.
The company aims to increase the Asia-Pacific region’s share of its overall revenue from the current 24% to 30%, “and China will be a major part of that,” he said. .
Mr. Klein said he considered China to be “a very interesting market”, “focused on innovation”, specifying that consumers there are on average much younger than those in established markets and that they are open to innovation .
Many new products from ZF made their world premiere in China. “If we like playing in this market so much, it’s because it is very dynamic and very demanding,” he said.
More than 70 automobile manufacturers participated in the IAA Mobility show this year, according to a spokesperson. Mr. Klein was delighted to see the presence of Chinese and international consumers of the ZF group.
Among the ZF Group’s highlights at the IAA are two technologies relating to electronic mobility and chassis respectively.
As Chinese car manufacturers seek to strengthen their presence in the European market, they also create new cooperation opportunities for ZF. Mr. Klein said his company was in discussions with such Chinese automakers. “ZF wants to cooperate on the entire range of products that we have,” he concluded. END
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