en.Wedoany.com Reported - ZF and XCMG have signed a joint venture agreement to establish "ZF (Xuzhou) Machinery Co., Ltd.," aiming to provide localized solutions tailored to China's agricultural machinery market and accelerate agricultural technology innovation.
The joint venture, headquartered in the Xuzhou Economic and Technological Development Zone in Jiangsu Province, marks a significant step in deepening the strategic partnership between the two companies and advancing agricultural equipment technology. At the signing ceremony, attendees included Chen Tangqing, Secretary of the Party Working Committee of the Xuzhou Economic and Technological Development Zone; Ji Hongzhi, Member of the Party Working Committee and Deputy Director of the Management Committee; Andreas Moser, Member of the ZF Board of Management and Head of the Industrial Technology and Commercial Vehicle Solutions Divisions; Alexander Seeliger, Senior Vice President of the Industrial Technology Division and Head of Off-Highway and Test Systems; Huang Li'en, Vice President of the Industrial Technology Division and Head of Asia-Pacific; Yang Dongsheng, Chairman and Party Secretary of XCMG and XCMG Machinery; and Luo Guangjie, Vice President of XCMG Machinery.
Andreas Moser stated that the Chinese market is of critical importance to ZF, and the company's 45-year history in China reflects its long-term commitment and innovation capabilities. Through the joint venture, ZF will further expand the localized production of advanced power shift technology, a key step toward the next generation of high-performance agricultural machinery. Yang Dongsheng noted that China's agricultural machinery sector is undergoing profound transformation, shifting toward larger, higher-end, and smarter solutions, with tractor power shift technology entering a critical window of accelerated development. The two parties will leverage XCMG's advantages in high-end agricultural machinery and ZF's power shift technology platform to jointly build globally competitive high-end agricultural machinery solutions.
Innovative components and system solutions will help modernize China's agricultural machinery industry and enhance its competitiveness in the international market. ZF is a global technology company with operations spanning passenger cars, commercial vehicles, and industrial technology, dedicated to providing mobility products and systems, and offering services in areas such as construction and agricultural machinery drivetrains, wind power systems, marine propulsion, and rail vehicle drives.
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