China Automotive Systems, Hyoseong Electric form JV to produce EPS electric motors
Companies plan to establish a new production facility near CAS’ headquarters in Wuhan
China Automotive Systems (CAS) has entered a joint-venture (JV) agreement with South Korea-based Hyoseong Electric to design, produce and sell electric motor for electric power steering (EPS) system, the Chinese supplier said in a press release on 27 December. CAS will have a controlling stake of 51% in the JV, Hyoseong (Wuhan) Motion Mechatronics System (HMMS). Hyoseong will own the remaining 49%.
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