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© thyssenkrupp Electronics Production | December 09, 2016

thyssenkrupp to build new steering system production site in China

thyssenkrupp is currently building a new production site for steering technology in the Chinese city of Changzhou – and with it creating about 800 new jobs.
A highly automated facility to manufacture steering components and complete electric steering systems is being constructed at the more than 150’000 square meter site and is scheduled to start supplying Chinese and international auto manufacturers in the coming year.

The company is investing around EUR 200 million in the first phase of the project. The plant will have an average production capacity of about four million electric power-assisted steering systems per year and will create roughly 800 new jobs in the coming years, the company states in a press release.

Dr. Karsten Kroos, CEO of thyssenkrupp’s Components Technology business area: “We offer our customers the full range of electric steering systems – for lightweight cars, sedans, SUVs and vans. In this and last fiscal year we received orders worth around eight billion euros for this steering technology alone. On this basis we have been further expanding our production network in North America, Europe and Asia in recent months. The new facility in Changzhou will be the central production hub for our steering activities in China.”

Over the last three fiscal years thyssenkrupp has invested around EUR 300 million in expanding the plant infrastructure of its components business in China. Components Technology supplies its products to customers from the automotive, construction and wind energy sectors and currently operates eleven production sites in China alone.

The growth rates in the Chinese auto industry is in particular benefitting for thyssenkrupp – and a continued annual growth of approximately 4%t is forecast in the region.

“In addition to the big international OEMs, we are also supplying more and more components to Chinese car makers. In the steering business alone, our portfolio of Chinese customers has more than doubled in recent months. That’s why we are increasing the scope of manufacturing at our new Changzhou site and producing the full spectrum of steering technology – from individual mechanical parts to steering columns to electric steering systems,” says Kroos.

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