Commercial Vehicle

ZF India owns a majority stake in Rane Group JV


ZF India has become the majority shareholde­r in Rane TRW Steering Systems. It now holds a 51 per cent stake in the Joint Venture (JV). Up until now, both partners held equal shares in the company. In the future, the JV will operate on the market under the name ‘ZF Rane Automotive India’. The renaming is said to reflect an enhanced cooperatio­n between the partners. India being an important market for ZF, Dr Holger Klein, Member of the Board of Management, ZF Group said, “By acquiring a majority stake from our long-standing partner Rane, we aim to further expand both our passenger car and commercial vehicle businesses for our customers in the Indian region.” Under the JV, the partners expect to offer newer technologi­es, expedite new product introducti­ons, and localisati­on. Rane Group is a strategic partner that will aid ZF to leverage competence, in line with the ‘Refresh India’ strategy. Harish Lakshman, Vice Chairman, Rane Group & Managing Director, Rane TRW Steering Systems Pvt. Ltd. cited the one per cent transfer to ZF as a major step in taking the relationsh­ip to the next level. Suresh KV, President, ZF India Pvt. Ltd. stated, “The complement­ary nature of the partners has been the hallmark of this JV which has resulted in the organisati­on performing consistent­ly over the years. Support for the Indian customer base with ZF engineerin­g and technology along with the customer connect and operations excellence of Rane will continue to define future goals.”

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