ZF and Foxconn joint venture officially established

ZF Friedrichshafen AG, one of the world's largest automotive parts suppliers, and Foxconn Technology Group, the world's largest electronics manufacturer, officially completed the establishment of a joint venture in the field of passenger car chassis systems on April 30. Foxconn acquired 50% of the shares of ZF Chassis Modules Co., Ltd., achieving a 50:50 shareholding ratio. The new company is named ZF Foxconn Chassis Modules Co., Ltd.