On June 2, XCMG and the ZF Group officially signed a joint venture agreement in Friedrichshafen, Germany, formally establishing a joint venture company. By strengthening cooperation, both parties will tailor localized solutions for China's agricultural machinery market, accelerating innovation in China's agricultural technology.

According to the agreement, the two sides will jointly establish "ZF (Xuzhou) Machinery Co., Ltd.," headquartered in the Xuzhou Economic and Technological Development Zone, Jiangsu Province. The signing of this agreement marks a significant step forward in deepening their strategic partnership and advancing technological progress in agricultural equipment.

The signing ceremony was attended by Chen Tangqing, Secretary of the Party Working Committee of Xuzhou Economic and Technological Development Zone; Ji Hongzhi, Member of the Party Working Committee and Deputy Director of the Management Committee; Andreas Moser, Member of the ZF Board of Directors and Head of the Industrial Technology Division and Commercial Vehicle Solutions Division; Alexander Seeliger, Senior Vice President of the Industrial Technology Division and Head of Off-Highway and Test Systems; Huang Li'en, Vice President of the Industrial Technology Division and Head of Asia-Pacific; Yang Dongsheng, Chairman and Party Secretary of XCMG Group and XCMG Machinery; and Luo Guangjie, Vice President of XCMG Machinery.

"The Chinese market is of vital importance to ZF. Our 45-year journey in China reflects not only our long-term commitment but also our strong innovation capabilities," said Andreas Moser, Member of the ZF Board of Directors. "Through this joint venture, we will further expand the localized production of advanced powershift technology, which is a key step toward the next generation of high-performance agricultural machinery."

Yang Dongsheng stated that China's agricultural machinery sector is undergoing profound transformation, shifting toward large-scale, high-end, and intelligent development. The adoption of tractor powershift technology has entered a critical window period for accelerated growth. "We will advance this collaboration with an open and pragmatic approach, leveraging XCMG's strengths in high-end agricultural machinery and ZF's platform advantages in powershift technology. Together, we aim to build globally competitive high-end agricultural machinery solutions and strengthen China's core capabilities in agricultural equipment."