China Automotive Systems’ (CAAS) subsidiary Jingzhou Henglong has secured its first R-EPS product order from a prominent European automobile manufacturer, marking a significant advancement in the company's global expansion strategy. The order, valued at over $100m in annual sales, will cater to various models of the client's vehicles, with mass production slated to commence by 2027. CAAS said, rack assist type electric power steering (R-EPS) systems are increasingly becoming standard for mid-to-high-end vehicles due to their reliability, efficiency, and swift response. Jingzhou Henglong's increased R&D investment in R-EPS has led to technological breakthroughs in noise, vibration and harshness (NVH), steering quality, and other performance characteristics, the company said in a news release. The use of CAAS' proprietary ball screw in assembly ensures product quality while optimising costs. CAAS' in-house developed electronic control units have enhanced network security and functional safety, minimising the risk of hardware failure through improved algorithm control. These advancements have resulted in steering performance that meets or surpasses customer expectations. CAAS CEO Qizhou Wu said: "This first order from a major European automobile OEM further expands our global footprint and acknowledges the growing value of our high-technology EPS products. "We are expanding our R-EPS annual production capacity to reach 250,000 units in 2025 and is expected to exceed 1 million units by 2030 to meet the increasing demand by a number of automobile OEMs." CAAS, headquartered in Hubei Province, is a leading supplier of power steering components and systems in the Chinese automotive market. The company operates through 16 Sino-foreign joint ventures and wholly owned subsidiaries, offering a wide range of steering system parts for passenger and commercial vehicles. With an annual production capacity exceeding eight million sets, CAAS provides four distinct series of power steering gears, columns, and hoses. "China Automotive Systems secures first European R-EPS order" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
China Automotive Systems secures first European R-EPS order
You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more
Start Your Free Trial Now!Download Free Report – Explore 3 Stock Ideas & Industry Insights
Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.
All investments involve risk—consider independent advice before making any investment decisions.
View 3 Research ReportsThis information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on ‘as is’ basis, using their API. The information and data provided on this page, as well as via the API, are not guaranteed to be real-time or accurate. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general informational purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine does not assume any responsibility for any trading losses you might incur as a result of using this information, data, or any analyst rating or recommendation provided. Kalkine will not accept any liability for any loss or damage resulting from reliance on the information, including but not limited to data, quotes, charts, analyst ratings, recommendations, and buy/sell signals sourced via the API.
Please be fully informed about the risks and costs associated with trading in the financial markets, as it is one of the riskiest forms of investment. Kalkine does not provide any warranties regarding the information on this page, including, without limitation, warranties of merchantability or fitness for a particular purpose or use.
Please wait processing your request...