ZF Group has introduced the rebranding of its Passive Security Methods division to ‘ZF Lifetec’. The brand new branding is an element of the present authorized separation of the Passive Security Methods division throughout the ZF Group. In 2023, ZF Passive Security Methods achieved gross sales of round €4.7 billion (approx USD 5.1 billion).
ZF stated that, as a number one passive security system supplier, ZF Lifetec pursues a well-defined technique to additional enhance gross sales and profitability as a standalone enterprise pushed by megatrends within the automotive trade and more and more stringent security rules.
“Our Passive Security Methods division has developed excellently. As a standalone model, ZF Lifetec features the strategic scope to additional speed up gross sales progress and profitability,” stated Dr. Holger Klein, CEO of the ZF Group. “The carve-out is progressing properly and we proceed to discover choices to additional develop ZF Lifetec sooner or later.”
“In the present day’s announcement of the brand new model ZF Lifetec is a visual sign, each internally and externally, of the impartial positioning and aspirations of the Passive Security Methods division,” added Dr. Martin Fischer, Member of the Board of Administration of the ZF Group accountable for the Passive Security Methods division.
Rudolf Stark, Head of ZF Passive Security Methods, added: “Our new ZF Lifetec model combines our mission of saving lives with our expertise pushed method. We’re aiming for progress, pushed by automotive megatrends and globally rising ranges of security rules. Our new model stands for a unprecedented stage of security for car occupants.”
In October 2022, ZF Group initiated the carve-out of its Passive Security Methods division, giving it extra strategic choices for its future improvement with a view to enabling greater progress in gross sales and profitability. With the brand new model, ZF Lifetec now begins a journey in the direction of a standalone firm, leveraging the strong place in a structural progress market much less affected by automotive trade shifts, the corporate stated in a media launch.
ZF Lifetec is among the main passive security gear suppliers with a worldwide presence of 46 areas throughout 18 nations and a market share of greater than 20% of worldwide gross sales in its core product classes. The excellent product portfolio covers inflatable restraint methods, steering wheel methods and seat belt methods, starting from small autos within the quantity section to probably the most refined luxurious autos.
