05,27,2026 8 views
On June 2nd, ZF and XCMG Group signed a joint venture agreement in Friedrichshafen, Germany, officially establishing a joint venture company. Both parties will strengthen cooperation and tailor localized solutions for the Chinese agricultural machinery market, accelerating technological innovation in Chinese agriculture.
According to the agreement, both parties will jointly establish "ZF (Xuzhou) Machinery Co., Ltd." with its headquarters located in Xuzhou Economic and Technological Development Zone, Jiangsu Province. The signing of this agreement marks an important step forward for both parties in deepening their strategic partnership and accelerating technological progress in agricultural equipment.
ZF and XCMG Group sign agricultural machinery joint venture agreement
Joint ventures will promote innovation in agricultural machinery
The representatives of ZF attending the signing ceremony include Andreas Moser, a member of the board of directors 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 testing systems, and Huang Lien, Vice President of the Industrial Technology division and head of the Asia Pacific region.
Representatives of XCMG Group include XCMG Group, Chairman and Party Secretary of XCMG Machinery, Yang Dongsheng, and Vice President of XCMG Machinery, Luo Guangjie.
The leaders in attendance in Xuzhou Economic Development Zone include Chen Tangqing, Secretary of the Party Working Committee of the Economic Development Zone, and Ji Hongzhi, member of the Party Working Committee and Deputy Director of the Management Committee.
Investment Signing Ceremony of ZF (Xuzhou) Machinery Co., Ltd
China is one of the most important growth markets in the field of agricultural machinery, and the joint venture will focus on producing advanced power shift transmission systems for this market, committed to combining global technical standards with customized solutions tailored to the specific needs of the Chinese market.
Strong alliance, complementary advantages
Andreas Moser, a member of the board of directors of ZF, stated:
The Chinese market is crucial for ZF. Our 45 year development journey in China reflects both our long-term commitment and ZF's strong innovation capabilities. Through the joint venture, we will further expand the localized production of advanced power shift technology, which is a key step towards the next generation of high-performance agricultural machinery
Yang Dongsheng, Chairman and Party Secretary of XCMG Group and XCMG Machinery, stated:
The Chinese agricultural machinery industry is undergoing a profound transformation. Chinese agricultural machinery is transforming and upgrading towards large-scale, high-end, and intelligent directions,tractorPower shift technology is entering a critical window period of accelerated development. We will uphold an open and pragmatic attitude to promote cooperation, relying on XCMG's industrial advantages in the field of high-end agricultural machinery and ZF's platform advantages in the field of power shifting technology, and work together to build high-end agricultural machinery solutions with global competitiveness, creating the core strength of China's agricultural equipment. ”
This joint venture has expanded the scope of ZF's industrial technology business and provided support for its long-term strategy of expanding into international markets. Looking ahead to the future, both parties plan to jointly develop innovative components and system solutions, while promoting the modernization process of Chinese agricultural machinery and further enhancing international market competitiveness.
