Jebsen Automotive Technik (JAT) and Tedrive Steering have announced plans to establish a joint venture named ‘Jebsen Tedrive Steering Systems’. The venture aims to bring Tedrive Steering’s advanced steering gear technologies to the Chinese market.
The partnership will draw on JAT’s operational knowledge, and China-wide sales and service network, and on the technological expertise of Tedrive Steering to satisfy the growing demand for automotive components in the region. Jebsen Tedrive Steering Systems will focus on supplying German-engineered steering systems, with eventual plans to localize the manufacturing in China.
Pavel Gilman, Tedrive Steering’s director of corporate strategy stated, “With the support of JAT, we will develop the market for our innovative steering technologies in China and help the local automotive sector better serve its domestic and international customers.”
Already the world’s largest automotive market, sales in the Chinese market grew almost 14% in 2013 according to the China Association of Automobile Manufacturers (CAAM), with 21.98 million vehicles sold. It is predicted that sales for 2014 are expected to show a further 8 to 10% growth.