ZF Friedrichshafen AG on Friday said it will be following the long-term goals of its “Next Generation Mobility” strategy to shape mobility needs of the future in 2021, the company said in a release. The company has bagged new billion-euro orders for the hybrid-capable 8-speed automatic transmission and new business in the area of active safety technology with the continued increase in demand for electric bus drives, and R&D orders for automated driving functions.The German car parts maker is preparing to ramp up the plants in Europe and the U.S. after customers resume production. In Asia, production has already been resumed.Announcing the annual result for 2019, the component maker said it has achieved its targets for the full year which were revised in summer 2019. The ZF Group’s sales in 2019 stood at €36.5 billion when compared to the 2018 figure which stood at €36.9 billion. Organic sales declined by 1.9 percent.“The general economic climate and special challenges connected to the overall transformation of our industry had a tangible impact on our business last year,” explained ZF CEO Wolf-Henning Scheider.Adjusted EBIT amounted to €1.5 billion against €2.1 billion in 2018; the adjusted EBIT margin declined to 4.1 percent. Investments in… Read full this story
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