China's Dongfeng signs JV with Nexteer for power steering systems

Nexteer Automotive

10/04/2017 16:54

April 10 (Reuters) - China's Dongfeng Motor Group Co Ltd 
 0489.HK  will form a joint venture with auto parts maker 
Nexteer Automotive Group Ltd  1316.HK  to design and make 
electric power steering systems for Dongfeng passenger vehicles, 
Nexteer said on Monday. 
    The venture - to be equally owned by Nexteer and a unit of 
Dongfeng - will set up a facility near Dongfeng's headquarters 
in Wuhan, China, Nexteer said. 
    Nexteer, whose customers include Fiat Chrysler  FCHA.MI , 
General Motors  GM.N , Toyota  7203.T  and Volkswagen 
 VOWG_p.DE , currently provides electric power steering systems 
for many Dongfeng-affiliated vehicles, including the Peugeot 
2008 crossover. 
 
 (Reporting by Shashwat Awasthi in Bengaluru; Editing by Sai 
Sachin Ravikumar) 
 ((Shashwat.Awasthi@thomsonreuters.com; within U.S.+1 646 223 
3403; outside U.S. +91 80 6749 3403; Reuters Messaging: 
shashwat.awasthi.thomsonreuters.com@reuters.net)) 
 
Keywords: NEXT AUTO GRP DONGFENG GROUP/JV