ZF Forms Tech Investment Unit

ZF Friedrichshafen AG has created a new unit called Zukunft Ventures GmbH to invest in technology companies.

The company, which will be based at ZF’s headquarters in Friedrichshafen, Germany, is expected to help ZF tap into new business segments and fill technology gaps faster. This includes building on ZF’s existing capabilities related to self-driving cars.

Zukunft Ventures will be headed by Torsten Gollewski, who joined ZF in June to oversee the company’s advanced engineering and design operations. He previously spent 15 years at Audi AG, where he led several of the carmaker's technology businesses.

ZF says there are no restrictions on the size, scope or location of the companies Zukunft will evaluate for future investments. It plans to look at startups and companies that already are well established.

In recent months ZF has invested in two German companies: Ibeo Automotive Systems GmbH and doubleSlash Net-Business GmbH, which specialize in lidar sensors and software for connected vehicles, respectively. ZF took 40% stakes in both firms.