ZF and XCMG Group establish a joint venture company for agricultural machinery.

On June 2nd, ZF and XCMG Group signed a joint venture agreement in Friedrichshafen, Germany, officially establishing a joint venture company. Through enhanced cooperation, the two parties will tailor localized solutions for the Chinese agricultural machinery market and accelerate agricultural technology innovation in China. According to the agreement, the two parties will jointly establish "ZF Machinery Co., Ltd.," with headquarters located in the Economic and Technological Development Zone of Xuzhou, Jiangsu Province.