Steering components and supplier China Automotive Systems says its Wuhan Jielong Automotive Electric Power Steering (EPS) subsidiary has started construction of new electric power steering units facility.
The new production plant – with an investment of US$10m – is located in the Wuhan Optical Valley High-Tech Development Zone. Key elements to be manufactured include core EPS parts, P-EPS assembly, and the brushless motor EPS assembly.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The company’s Jinzhou plant currently has an annual EPS production capacity of 200,000 units. By 2012, the Jinzhou plant and the new Wuhan facility will have a combined annual EPS production capacity of 500,000 units.
Estimated annual EPS production by 2013 capacity will be 1m units when the Wuhan plant runs at full utilisation.
A new R&D centre with around 150 staff will be added to focus on the further development of EPS technology in 2012.
“Our goal is to become the dominant domestic manufacturer and leading brand for EPS in the fast-growing Chinese vehicle market,” said China Automotive Systems CEO Qizhou Wu.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataChina Automotive Systems operates through nine Sino-foreign joint ventures.
Its customer base includes Chinese auto manufacturers such as: China FAW Group; Dongfeng Auto Group; BYD; Beiqi Foton Motor and Chery Automobile.
