Nexteer Automotive has announced a major investment to expand its manufacturing operations in Melbourne, Australia. The expansion will allow for design, development and production of electric power steering (EPS) along with lightweight steering and driveline products.
To assist with the development of green technology in Australia’s automotive component industry, the Australian Federal Government is providing an AUD$63m grant to Nexteer Automotive Australia from its Green Car Innovation Fund (GCIF).
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Nexteer Automotive Australia will receive its funding over a three-year period along with additional investment support from the Victorian State Government. The EPS and driveline products produced in Australia will be used by Nexteer facilities in Europe, North America, South America, Asia and vehicle manufacturers globally.
“By developing this new world class manufacturing footprint over three years, we will create over 250 additional jobs while also supporting the reinvigoration of a second and third tier manufacturing base and extending the Australian supply chain,” said Lloyd Doddridge, Vice President for Asia Pacific at Nexteer.
According to Victorian State Government Premier, Ted Baillieu, “This is one of Victoria’s biggest automotive investments in two decades and will dramatically strengthen the sector’s R&D, manufacturing and export capabilities.”
Nexteer Australia has worked with both the Federal and Victorian Governments in putting a co-investment package together that successfully delivers a high technology manufacturing outcome for the benefit of both Australia and Nexteer.
