What could be seen as a result of major automakers around the world bubble-wrapping its lineup from future demands of the market, German auto supplier ZF Friedrichshafen AG recently stated it is developing its own self-driving technology to be at par with its competitors.

The company is planning to make an investment to the tune of 12 billion euros in the coming five years towards electric and autonomous vehicle technology.

The company is planning to make an investment to the tune of 12 billion euros in the coming five years towards electric and autonomous vehicle technology

The yearly breakdown of the investment which stands at 2.4 billion euros towards the demanding technology surpasses the company’s 2.2 billion euros investment made towards research and development in 2017.

“Our concept vehicle will be ready for series production during the next two years,” CEO Wolf-Henning Scheider said. “We’re in concrete discussions with several customers.”

The yearly breakdown of the investment which stands at 2.4 billion euros towards the demanding technology surpasses the company’s 2.2 billion euros investment made towards research and development in 2017

ZF recently made into the list of world’s largest car-parts manufacturer after its $12.7 billion takeovers of TRW Automotive Holdings Corp. three years ago. Through its recent investment, the company aims at developing a self-driving battery-powered delivery van.

The company claims its new van will be able to navigate city centres on its own, recognize traffic lights and even maintain lanes on roads without markings. Apart from that, the vehicle will also have a ‘follow me’ function which allows a parcel carrier to deliver packages on foot. This comes with parking intelligence which will look for a parking elsewhere if not available in the immediate surroundings.