Rebranding is a key milestone in ongoing carve-out process of the Passive Safety Systems division within the ZF Group. In 2023, ZF Passive Safety Systems achieved sales of around €4.7 billion. ZF Lifetec aims for rapid growth, driven by automotive megatrends and globally rising levels of safety regulations.
26 Mar 2024 | 6307 Views | By Autocar Professional Bureau
The ZF Group has announced the rebranding of its Passive Safety Systems division to ‘ZF Lifetec’. The new branding is part of the current legal separation of the Passive Safety Systems division within the ZF Group. In 2023, ZF Passive Safety Systems achieved sales of around €4.7 billion.
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The ZF Group has announced the rebranding of its Passive Safety Systems division to ‘ZF Lifetec’. The new branding is part of the current legal separation of the Passive Safety Systems division within the ZF Group. In 2023, ZF Passive Safety Systems achieved sales of around €4.7 billion.
As a leading passive safety system provider, ZF Lifetec pursues a well-defined strategy to further increase sales and profitability as a standalone business driven by megatrends in the automotive industry and increasingly stringent safety regulations.
“Our Passive Safety Systems division has developed excellently. As a standalone brand, ZF Lifetec gains the strategic scope to further accelerate sales growth and profitability,” said Dr. Holger Klein, CEO of the ZF Group. “The carve-out is progressing well and we continue to explore options to further develop ZF Lifetec in the future.”
“Today’s announcement of the new brand ZF Lifetec is a visible signal, both internally and externally, of the independent positioning and aspirations of the Passive Safety Systems division,” added Dr. Martin Fischer, Member of the Board of Management of the ZF Group responsible for the Passive Safety Systems division.
Rudolf Stark, Head of ZF Passive Safety Systems, added: “Our new ZF Lifetec brand combines our mission of saving lives with our technology driven approach. We are aiming for growth, driven by automotive megatrends and globally rising levels of safety regulations. Our new brand stands for an extraordinary level of safety for vehicle occupants.”
In October 2022, ZF Group initiated the carve-out of its Passive Safety Systems division, giving it more strategic options for its future development with a view to enabling higher growth in sales and profitability. With the new brand, ZF Lifetec now starts a journey towards a standalone company, leveraging the robust position in a structural growth market less affected by automotive industry shifts.
ZF Lifetec is one of the leading passive safety equipment providers with a global presence of 46 locations across 18 countries and a market share of more than 20 percent of global sales in its core product categories. The comprehensive product portfolio covers inflatable restraint systems, steering wheel systems and seatbelt systems, ranging from small vehicles in the volume segment to the most sophisticated luxury vehicles.
Based on strong relationships with a diversified customer base of global OEMs driven by outstanding quality and R&D collaborations as well as a strong global innovation platform, ZF Lifetec states it is well positioned for future growth opportunities.
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