independent, 50:50 joint venture between ZF Friedrichshafen and Robert Bosch GmbH. In 2007 ZF Friedrichshafen managed to increase its business volume about 8% to billion. The operating profit was about million. In 2008 ZF had a profit of million from a total business volume of billion. During the financial crisis ZF was one of the companies hit most. Its business volume decreased in turnover to billion. Total loss was about million. According to the current development ZF is forecasting sales growth of about 10%, which would be above the industry average. Due to the financial crisis ZF received a credit of about million by KfW. At the end of the term, it has to be paid back with interest. Being a state bank, the KfW aid is not considered governmental support. ZF is about to save million without reducing its permanent staff. Contracts of short-term employees were not extended. Total number of employees was reduced from 63,000 to 59,000 worldwide. According to CEO Härter, there is no need for further employee reduction. On 16 September 2014, the Wall Street Journal reported that ZF agreed to acquire TRW Automotive Holdings for $13.5 billion. The acquisition would create the world's second largest automotive parts concern, ranked just behind Robert Bosch GmbH. For clearing way to acquire TRW Automotive Holdings, ZF Friedrichshafen AG sold its stake in ZF Lenksysteme GmbH to Robert Bosch GmbH. ZF Lenksysteme GmbH has now been renamed as Robert Bosch Automotive Steering GmbH. In September 2020, ZF Friedrichshafen AG entered a partnership with Aeva Inc to put Lidar sensors, a sensor for self-driving vehicles, into production. Business organisations The business units are assigned to the nine divisions: Active Safety Systems - Sales (2020) €4,987 million: Electronic Stability Control, Integrated Brake Control, Electric Park Brakes, Electrically Powered Steering Systems and Electrically Powered Hydraulic Steering Systems Car Chassis Technology - Sales (2020) €6,680 million: chassis components for wheel guidance to complete front and rear axles, including passive and semi-active dampers, as well as electromechanical active chassis systems Electrified Powertrain Technology - Sales (2020) 8,459 million: Automatic Transmissions, Automated Manual Transmissions, Manual Transmissions, and Dual-Clutch Automatic Transmissions, Powertrain Modules, Electronic Systems, Electric Motors, Electric Vehicle Drives, Electronic Interfaces Electronics & ADAS - Sales (2020) €1,561 million: advanced driver assist systems, sensor technologies, integrated electronics including advanced safety domain control units and safety electronics such as airbag electronic control units and crash sensors