CHANGZHOU, China – On Jan. 19, ThyssenKrupp (China) invested approximately $85 million to build an automotive electronic power steering (EPS) system facility in the Changzhou National Hi-Tech District (CND) Eastern China’s Jiangsu Province. The facility is expected to go into production in 2016. Changzhou is now home to nearly 200 companies engaged in some aspect of the automotive sector.
Thyssenkrupp said it decided to make an additional investment of approximately $34.2 million in its CND-based engine facility, ThyssenKrupp Engine Systems (Changzhou), following the outstanding performance of the plant. The operation started with an initial investment of approximately $42.9 million. The facility that will be built during the second phase of the project will produce assembled camshaft cylinder head modules.
Established in Nov. 1992, CND is the biggest and most dynamic economic growth point in Changzhou and serves as a major window of the city to the outside world. CND has been committed to an export-oriented economic model since its inception. In 2014, despite the complex landscape in the international market, CND held industry promotion meetings in a number of countries, including Japan, Germany and the U.S., and delivered strong performance in terms of attracting investment from the automobile and automotive parts, healthcare, new materials and aviation sectors in each of the countries the delegation visited.
