KUALA LUMPUR: Global automotive supplier ZF Foxconn Chassis Modules' (ZFFCN) operations in Malaysia are poised for growth, with Internationally brands like BMW, Mercedes-Benz, and Porsche supporting its orderbook.
"Our footprint in Malaysia has now been over a decade whereby we have actively worked on expanding the plants' capacity in response to the growing demand, and we are committed to developing the local talent pool for many more years to come," ZFFCN vice president for Asia Pacific Thinus Steyn said.
He added that the company's successful market presence should support motivating Asian NEV customers towards trustful partnerships in the future.
ZFFCN has opened its operations in Malaysia since 2021 and currently has two plants in Malaysia located at Kulim and Pekan, catering to a diverse customer portfolio.
The company expects the operations to grow through an organic market increase of its current customer base and through catering to the requirements of newer brands.
With its 25 international locations, ZFFCN expects to double its annual sales from actual US$4.4 billion to US$8.8 billion by 2029.
It stated that the optimism is contrary to the situational decline in the global automotive market given that it is benefiting from a strong order intake of top-tier original equipment manufacturers such as BMW, Mercedes-Benz, and Stellantis.
As it celebrates 30 years of chassis module excellence, ZFFCN chief executive office Eike Dorff said its operations around the world have proven its market-leading expertise.
"Furthermore, the recent strong order intake fuels our business growth also in the Asian-Pacific region and will enable us to double our sales by 2029. Experience, adaptability, unconditional customer focus, and passion remain our guarantors for the client's success," he added.