CAAS and Hyoseong Electric form joint venture for EPS motors in Wuhan

China Automotive Systems (CAAS) and Hyoseong Electric formed a joint venture, Hyoseong (Wuhan) Motion Mechatronics System, to design, manufacture and sell electric motors for automotive electric power steering systems. A new production facility is planned near CAAS's headquarters in Wuhan with an expected annual capacity of 4.5 million units. Total investment is CNY 550 million (US$80 million), with CNY 198 million for the first phase.

“With this joint venture, we will not only significantly increase in-sourcing capability, but also gain greater control over the technology, production and quality of motors for our EPS products, which are critical products for our future.”just-auto.com

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• just-auto.comCAAS and Hyoseong Electric join to produce electric motors for EPS - Just AutoSam DukeJan 3, 2019

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