China Automotive Systems and Hyoseong Electric form joint venture for EPS motors

China Automotive Systems (CAAS) and Hyoseong Electric formed a joint venture, Hyoseong (Wuhan) Motion Mechatronics System Co., Ltd., to design, manufacture and sell electric motors for automotive electric power steering systems. CAAS owns 51%, Hyoseong 49%. Total investment is RMB 550 million, with a new facility planned near CAAS's Wuhan headquarters with annual capacity of 4.5 million units.

“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”geospatialworld.net

• 1 source
• geospatialworld.netChina Automotive Systems join hands with Hyoseong Electric Co. Ltd. to design automotive electric systems ("EPS").News DeskJan 3, 2019

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