7/14/22, 12:09 PM ZF News : ZF eyes €1 billion from commercial vehicle business in India, to invest €200 million

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Business News › Industry › Auto › Auto Components › ZF ITR
How to file eyes €1 billion from commercial vehicle business in India, to invest €200 million
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The Group has committed over €200 million in India for the commercial vehicle division EPF Calculator

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in the coming decade and it willLifebe setting up a new manufacturing
Insurance Data Center site in Orgaddam
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on the outskirts of Chennai, which has been selected to be eligible for the Government

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interest
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past peak to €400 Car Loan Calculator Buy Wealth Magazine

Earn million in revenues in 2022 for its

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commercial vehicle division in India Personal Loan Calculator

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rate up
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and it has set itself an ambitious targetRisk Tolerance Calculator
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to grow by two and half times to € 1
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billion by the end of the
Riskdecade
Adjusted in the

to 7.75%
Highest
country.
ZF currently sources merely €100 million worth of
components from the global kitty of €20 billion.

The Group has committed over €200

million in India for the commercial vehicle division in the coming decade and
Bajaj Finance
it will be setting up a new manufacturing site in Orgaddam on the outskirts of
Chennai, which has been selected to be eligible for the Government of India’s
production linked incentive scheme.

Williem Rehm, Member of Board of Management and the global head of the Book Now
Commercial Vehicle Solution Division at ZF told ET, India is a very important
market and it employs 6500 people in India across all businesses. For the CV
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division alone, it has hired 300 software engineers who are doing a critical role
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7/14/22, 12:09 PM ZF News : ZF eyes €1 billion from commercial vehicle business in India, to invest €200 million

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“We are investing heavily in India. There is a reason why India has been
carved out as a separate region from Asia Pacific with a dedicated P&L to offer
higher responsibility on the base,” added Rehm.

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With a significant rise in global sourcing from India and strong bounce back
Most Popular News
in the domestic commercial vehicle market, India will continue to outpace
and be amongst the fastest growing markets for ZF in the coming decade.

1. Waiting time for employer-

sponsored green cards rises

While the HQ has set itself a target of achieving € 10 billion turnover for the
commercial vehicle business solution till 2030, India is expected to grow from 2. PM to launch SGX Nifty trade
at GIFT
€400 million to €1 billion in the same time frame, said the top management.

Rehm says his vision is to serve the customers with the next generation
technology with a localised solution

3. Nothing phone (1) price

leaked ahead of launch;
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“We have a clear growth path for the next 8 years. We want to grow this
division to €10 billion by the end of the decade and India will be a strong 4. Centre allays concerns over
$620.7 bn external debt, says
contributor to this by not only participating in India's growth story but also its share only 21%
source a lot more from India amid global disruption of supplies,” added Rehm.

5. Will ITR filing deadline for

To be sure, ZF currently sources merely €100 million worth of components FY 2021-22 be extended?
Here's what tax experts have
from the global kitty of €20 billion. Given the disruption in supply chain to say
globally, India should play a much bigger role in the future, assures Rehm.

With the integration of Wabco – ZF Commercial Vehicle Solutions has not

only become the largest CV supplier in India, but it also boasts of the broadest
product portfolio, offering everything from Truck & Bus up to Trailer
technology as well as Digital solutions for Fleet Management, Autonomous
driving aspects etc, said the company.

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While the automotive industry is challenged as a whole, by the huge AD TIMES PRIME CLICK HERE

investments required not only for the transformation towards electrification,

automation and digitalization, but also in modernization of the commercial
vehicle landscape in the country, experts say suppliers like ZF can play a Most Popular Opinion
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