Foxconn, an electronics contract manufacturer, agreed to acquire a 50% stake in ZF Chassis Modules, a company that bundles the passenger car axle systems assembly, from ZF Friedrichshafen, a technology company supplying systems for passenger cars, for $556m. “With Foxconn, we have gained a strong strategic partner with whom we can open up new perspectives and opportunities for the ZF Chassis Modules. ZF as a globally active automotive supplier and Foxconn as a leading electronics manufacturer complement each other excellently to jointly open new customer groups and expand its presence, especially in growing markets. With this step, we are implementing our strategy to grow specific business areas of ZF with the support of external partners beyond current limits," Holger Klein, ZF CEO.