FRANKFURT (Reuters) - Car parts maker ZF Friedrichshafen said on Friday it acquired a 35 percent stake in ASAP, a Germany-based maker of software and testing systems for autonomous driving applications and electric vehicles.
ASAP specializes in car-to-x communication, human-machine interfaces and electronic architecture and last year generated sales of 84 million euros. It employs 1,100 staff.
ZF’s Chief Executive Officer Wolf-Henning Scheider recently said ZF will invest about 12 billion euros in electromobility and autonomous driving over the next five years.
A purchase price for the ASAP stake was not disclosed.
Reporting by Arno Schuetze, editing by Riham Alkousaa