CHONGQING, China, March 29, 2024 -- Today, Nexteer Chongqing celebrated its 10-year anniversary and production milestone of five million Electric Power Steering (EPS) systems with a ceremony in Degan Industrial Park of Jiangjin District.

"Since its establishment in 2014, Nexteer Chongqing has continued to grow and transform to meet customer needs – evolving from a production factory to a high-tech enterprise with independent product development and verification capabilities that produces modular, intelligent and adaptable technologies," said Hunter Long, General Manager of Nexteer Chongqing. "With the continuous improvement of Nexteer's product technology competitiveness, local engineering capabilities and quick response to market and customer needs, Nexteer Chongqing has grown exponentially in the last five years. Our production milestone of five million EPS systems is a testament to this growth and how we're enabling fuel efficiency and advanced safety and performance for our OEM customers."

About Nexteer Chongqing

Chongqing Nexteer Steering System Co., Ltd. was established in January 2014, covering an area of approximately 10 acres and a building area of 8,000 square meters. It was jointly established by Nexteer (China) Holding Co., Ltd. and Chongqing Construction Engineering (Group) Co., Ltd.

The site produces EPS systems, including Column-Assist EPS (CEPS), Rack-Assist EPS (REPS), as well as Intermediate Shafts. These products meet the needs of all vehicle propulsion types, including internal combustion engines and new energy vehicles, as well as support megatrends such as electrification, software/connectivity and advanced driver assist systems (ADAS). Nexteer Chongqing currently serves 19 domestic and international OEM customers and has been recognized with multiple customer awards in recent years.

Since its establishment, Nexteer Chongqing has actively promoted lean production, improved digitalization of production equipment and strengthened the application of intelligent technology. At present, the proportion of digital equipment at the site has reached over 95%, and technologies such as digital processing centers, automatic assembly and automatic detection are widely used. Nexteer Chongqing has been awarded as National High-tech Enterprise, Specialized and New Enterprise, and Chongqing Digital Workshop, etc.

"Nexteer Chongqing is committed to creating value for our customers by providing high-quality, advanced technologies that solve challenges across mobility megatrends, as well as supporting customers with efficient, local services. The establishment and development of Nexteer Chongqing is a best practice of cultivating the local market in China," said Cameron Wang, Nexteer Chief Financial Officer (CFO) for APAC Division and Vice Chairman of Nexteer Chongqing.

About Nexteer

Nexteer Automotive (HK 1316) is a global leading motion control technology company accelerating mobility to be safe, green and exciting. Our innovative product and technology portfolio includes electric and hydraulic power steering systems, steer-by-wire systems, steering columns and intermediate shafts, driveline systems and software solutions. The company solves motion control challenges across all megatrends – including electrification, software/connectivity, ADAS/automated driving and shared mobility – for more than 60 customers around the world including BMW, Ford, GM, RNM, Stellantis, Toyota and VW, as well as automakers in India and China including BYD, Chery, Great Wall, Geely, Xpeng and others. www.nexteer.com

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