The change from RANE TRW Steering Systems Pvt. Ltd. to ZF RANE Steering Systems Ltd., or ZF RANE, is a major partnership between two big players in the automotive industry. It involves the Rane Group, an Indian automotive components manufacturer, and ZF Friedrichshafen AG, a global technology company known for its expertise in driveline and chassis technologies.
BACKGROUND:
In 2011, RANE TRW Steering Systems Pvt. Ltd. was formed as a joint venture between Rane Group and TRW Automotive (now part of ZF Friedrichshafen AG). TRW Automotive, a prominent player in automotive safety and steering technologies, The joint venture aimed to leverage Rane Group's market knowledge and manufacturing capabilities along with TRW's advanced steering technology to serve the Indian automotive market.
ACQUASITION OF TRW AUTOMOTIVE BY ZF FRIEDRICHSHAFEN:
ZF Friedrichshafen acquired TRW Automotive on May 15, 2015. The acquisition was announced on September 16, 2014, and was valued at $13.5 billion. The deal created the world's second largest automotive parts supplier, behind Robert Bosch GmbH. The acquisition was also seen as a way for ZF to diversify its product portfolio. TRW was a major supplier of steering systems, and its acquisition gave ZF a stronger foothold in this market. The acquisition resulted in TRW Automotive becoming a part of ZF Friedrichshafen AG, The combined company is now known as ZF Friedrichshafen AG, and it is one of the world's leading automotive suppliers.
THE TRANSITION :
Because of the acquisition of TRW Automotive by ZF Friedrichshafen AG in 2017. The joint venture between Rane Group and TRW Automotive was affected. As a result of this acquisition and to align with ZF's global branding strategy, the joint venture underwent a name change to ZF RANE Steering Systems Ltd. The new name, ZF RANE, reflected the combined strength of ZF Friedrichshafen AG's advanced technology and Rane Group's local market knowledge, creating a unified identity under ZF's ownership.