China's Dongfeng signs JV with Nexteer for power steering systems
April 10 China's Dongfeng Motor Group Co Ltd will form a joint venture with auto parts maker Nexteer Automotive Group Ltd to design and make electric power steering systems for Dongfeng passenger vehicles, Nexteer said on Monday.
The venture - to be equally owned by Nexteer and a unit of Dongfeng - will set up a facility near Dongfeng's headquarters in Wuhan, China, Nexteer said.
Nexteer, whose customers include Fiat Chrysler, General Motors, Toyota and Volkswagen , currently provides electric power steering systems for many Dongfeng-affiliated vehicles, including the Peugeot 2008 crossover. (Reporting by Shashwat Awasthi in Bengaluru; Editing by Sai Sachin Ravikumar)