The Liebherr Group is selling its shares in a joint venture (JV) in China and is now concentrating on a separate company. As part of this, Liebherr-Transportation Systems GmbH & Co. KG and Zhejiang Zongche Railway Vehicles Equipment Co., Ltd. have signed an agreement to transfer all of Liebherr's shares to the Chinese company. The sale is expected to be completed before the end of 2022. Liebherr has established its own company in China, Liebherr Transportation Systems, based in Pinghu in the Chinese province of Zhejiang. The company has already gained its own access to the market and will then be the only company to sell Liebherr refrigeration and air-conditioning systems as well as hydraulic drive systems in China.
