April 10, 2017 / 3:56 PM / 7 months ago

China's Dongfeng signs JV with Nexteer for power steering systems

April 10 (Reuters) - 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)

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