An inauguration ceremony is held on Friday to open the first ZF plant in northern Hai Phong port city. — Photo courtesy of Thanh Ha

Germany’s ZF Friedrichshafen, a global technology company, inaugurated its first plant producing chassis modules for cars in northern Hai Phong city on Friday.

Located in the 70-ha Supplier Park of VinFast Manufacturing Automobile and E-scooter Plant on Cat Hai Island, the plant produces chassis modules just-in-time for a local automotive manufacturer.

ZF has invested more than 25 million euro in the site.

The Vietnamese car industry is one of the fastest growing in Southeast Asia, according to ZF. With its Hai Phong site, ZF takes its first step into this market, following the demand of VinFast, founded in 2017 as the first Vietnamese automotive manufacturer.

“This cooperation offers ZF the unique opportunity to get in on the ground floor of a new market,” said Michael Hankel, Member of the ZF Board of Management at the inauguration ceremony.

The plant exemplifies ZF’s local-for-local strategy. It is designed and equipped to produce chassis module sets just-in-time at a rate of 38 jobs per hour.

ZF is a global technology company and supplies systems for passenger cars, commercial vehicles and industrial technology. — VNS