# NSK and thyssenkrupp sign MoU for steering business joint venture

NSK and thyssenkrupp signed a memorandum of understanding to establish a joint venture for their steering businesses. The companies aim to finalize a definitive agreement within fiscal year 2022, leveraging complementary products, customers, and regions to become a global leading supplier.

- Type: Partnership
- Announced: 2022-05-12
- Status: announced
- Products: steering systems
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [NSK](https://endata.com/companies/1628.md)
- [Thyssenkrupp](https://endata.com/companies/833.md) (partner)
- [NSK](https://endata.com/companies/1628.md) (partner)
- [thyssenkrupp Automotive](https://endata.com/companies/62894.md) (partner)

## Sources

- [kikai-news.net](https://kikai-news.net/2022/05/12/%e6%97%a5%e6%9c%ac%e7%b2%be%e5%b7%a5%e3%81%a8%e7%8b%ac%e3%83%86%e3%82%a3%e3%83%83%e3%82%bb%e3%83%b3%e3%82%af%e3%83%ab%e3%83%83%e3%83%97%e3%80%81%e3%82%b9%e3%83%86%e3%82%a2%e3%83%aa%e3%83%b3%e3%82%b0/), 2022-05-12: "両社のステアリング事業は、製品タイプ、顧客、地域の補完性が高く、多くのシナジーが見込まれます。"
- [thyssenkrupp-automotive-technology.com](https://www.thyssenkrupp-automotive-technology.com/en/press-detail/thyssenkrupp-automotive-and-nsk-steering-to-evaluate-cooperation-132610), 2022-05-17: "thyssenkrupp and the Japanese industrial group NSK have signed a memorandum of understanding (MoU) to explore a joint venture between thyssenkrupp Automotive and NSK's steering business."
- [vehicledynamicsinternational.com](https://www.vehicledynamicsinternational.com/news/steering/nsk-and-thyssenkrupp-evaluate-automotive-joint-venture.html), 2022-06-16: "NSK and Thyssenkrupp have signed a memorandum of understanding (MoU) to explore a potential joint venture between their subsidiaries, NSK Steering and Thyssenkrupp Automotive."

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