ZF shifts strategy as hybrid demand eases debt pressure

ZF Friedrichshafen is seeing stronger orders for hybrid and combustion-engine components as the pace of electric vehicles (EV) adoption moderates. Michael Frick, CFO of ZF, told Bloomberg the company is shifting from an EV-first approach to supplying components across electric, hybrid and internal combustion engine platforms. The German automotive supplier’s move is intended to bolster the balance sheet and improve refinancing prospects. ZF faces refinancing needs exceeding €13bn ($15.31bn) by the end ...