# Wolong Electric and ZF Friedrichshafen form EV motor joint venture

Wolong Electric Group and ZF Friedrichshafen AG signed an agreement to form a joint venture, Wolong ZF Automotive Electric Motors Co Ltd, dedicated to developing and producing traction motors for electric vehicles. The JV will be headquartered in Shaoxing, China, with a plant to be set up in Serbia. Initial registered capital is EUR 53.85 million, with Wolong holding 74%.

- Type: Partnership
- Announced: 2020-03-11
- Where: Shaoxing, Zhejiang province, China
- Value: $61.0M (53.9M EUR)
- Status: announced
- Products: traction motors for electric vehicles, plug-in hybrids, micro-hybrids
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [ZF Friedrichshafen](https://endata.com/companies/4104.md) (partner)
- [Wolong Electric Group](https://endata.com/companies/10591.md) (partner)

## Sources

- [global.chinadaily.com.cn](https://global.chinadaily.com.cn/a/202003/11/WS5e68a6d9a31012821727e3db.html), 2020-03-11: "This joint venture is an example of win-win cooperation."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.