# 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.

- Type: Acquisition
- Announced: 2019-01-03
- Where: Wuhan, China
- Value: $80.0M (550.0M CNY)
- Status: announced
- Capacity: 4.5 million units per year
- Products: electric motors for automotive electric power steering systems
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [China Automotive Systems](https://endata.com/companies/19421.md)
- [Hyoseong Electric](https://endata.com/companies/19422.md) (partner)

## Sources

- [geospatialworld.net](https://geospatialworld.net/news/china-automotive-systems-join-hands-with-hyoseong-electric-co-ltd-to-design-automotive-electric-systems/), 2019-01-03: "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"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.