According to Reuters news on August 30, German auto supplier ZF sold its body control system division to China Lixun Precision Industry Co., Ltd. to rebuild technology in the new era of autonomous vehicles and electric vehicles. combination.
ZF manufactures automatic transmissions. In May this year, it established a joint venture with French auto parts company Faurecia to develop autonomous driving interiors and safety technology. Therefore, ZF does not need to continue to operate its body control system department. Both ZF and Lixin have refused to respond.
ZF CEO Stefan Sommer said in December that ZF intends to sell the body control systems division and is wise to respond to whether the company accepts a price of $1 billion (about RMB 6.599 billion). According to people familiar with the matter, the department eventually sold for less than $1 billion.
The ZF Body Control Systems division produces electronic components for instrument panels, including switches, heating and air conditioning controllers and displays, integrated electronic center panels and modular boxing controllers.
Headquartered in Dongguan, Lixun Precision Industry Co., Ltd. manufactures cables and cable connectors for computer, communications and consumer electronics for the automotive and medical industries.
ZF is an unlisted car supplier based in Friedrichshafen, located in a small town on the shore of Lake Constance in southern Baden-Württemberg, Germany. ZF intends to reduce its reliance on fuel engines and try to get rid of non-core assets to help build the expertise of autonomous vehicles and electric vehicle parts.
At the beginning of this month, ZF said that after acquiring US TRW Automotive Group for US$13.5 billion (approximately RMB 89.88 billion) in 2015, the company intends to make a larger acquisition.
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