ZF is considering a full spin-off of its Electrified Drive Technologies division, named Project Verde, with completion aimed for 2023 and a possible sale by 2026. This division is under scrutiny due to profitability issues, despite holding €30 billion in orders. The restructuring could affect over 32,000 jobs and accounts for €11.5 billion in revenue. Major sites impacted include Schweinfurt, Friedrichshafen, and Saarbrücken. Additionally, ZF announced a broader restructuring plan to cut 14,000 jobs by 2028 due to rising cost pressures and weakening demand for electric vehicles.
According to a report by German newspaper Handelsblatt, ZF is evaluating a full spin-off of its Electrified Drive Technologies division under a project called "Verde."
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