October 19, 2018 20:54 CET
ZF Friedrichshafen has taken a 35 percent stake in ASAP Holding, an engineering services provider that specializes in electrified mobility, autonomous driving and connected vehicles, as the drivetrain supplier seeks to strengthen its presence in future technologies.
ASAP, which has 1,100 employees, is based in Gaimersheim, Germany, near Ingolstadt.
ZF made the purchase through Zukunft Partners, the company’s development fund for acquisitions and strategic partnerships. The two companies said they would not disclose the cost of the acquisition.
The partial acquisition will help bolster ZF in the fields of autonomous driving and electromobility, ZF said in a news release Friday.
CEO Wolf-Henning Scheider said last month at the Hanover commercial vehicles show that the company would be investing a total of 12 billion euros in those technologies over the next five years. The project includes developing a battery-powered delivery van that can drive on its own.
ZF is developing products for electrified vehicles ranging from passenger cars to vans to heavy commercial vehicles, including electric axles and transmissions for electric drive.
Torsten Gollewski, the general manager of Zukunft Ventures and the head of ZF’s advanced development department, said in the news release that the agreement would give ZF “access to human resources from an outstanding engineering services provider with extensive industry experience and special expertise in testing and validation.”
ASAP, which is privately held, had sales of 84 million euros among nine subsidiary companies in 2017.
ZF ranks fifth on the Automotive News Europe Top 100 list of global suppliers, with worldwide automotive sales of $34.5 billion in 2017.
Contact Automotive News