Capitalizes on Company's APAC Growth Momentum

CHANGSHU,China,Jan. 15,2025 -- Nexteer Automotive today announced the grand opening of its new facility in Changshu,Jiangsu Province,as a strategic expansion of its advanced steering systems manufacturing and testing capabilities. This expansion positions Nexteer to further capitalize on growth momentum in APAC and meet increasing demand for advanced Electric Power Steering technologies from global and domestic automakers.

NEXTEER’S FACILITY GRAND OPENING IN CHANGSHU,CHINA

Nexteer's Changshu Campus,spans approximately 137 acres and features state-of-the-art automated production lines,advanced testing and validation laboratories,plus test tracks featuring various road surfaces and environmental conditions.

In addition to increased production and validation capacity,Nexteer's Changshu grand opening also officially marks expanded production of Dual-Pinion Electric Power Steering systems (DPEPS),including Nexteer's mPEPS,an innovative modular approach that leverages existing building blocks for affordable,fast-to-market,flexible and scalable steering systems – while maintaining safety and performance excellence.

"The opening of Nexteer's Changshu Campus is an important step in capitalizing on our growth momentum in APAC and globally. This new facility will greatly enhance our production and validation throughput,efficiency,competitiveness and customer responsiveness," saidRobin Milavec,President,Chief Technology Officer,Chief Strategy Officer,CSO and Executive Board Director of Nexteer Automotive.

APAC's automotive market is quickly evolving alongside megatrends such as electrification,connectivity,software-defined vehicles and more. Consequently,our customers' need for the most advanced motion control solutions that are affordable,fast-to-market and flexible – also continues to grow and become more complex.

"Nexteer's expansion in Changshu strengthens our APAC market position and supports economic development via technological and industrial transformation. This not only aligns with the high-end,intelligent and green development direction of the manufacturing industryadvocated by China's New Quality Productive Forces,but also supports Nexteer's vision to be the leading motion control technology company accelerating mobility to be safe,green and exciting," said,Jun Li,Global Vice President & APAC Division President of Nexteer Automotive.

Nexteer's Changshu facility grand opening is one element of an overall strategy that balances a global footprint of manufacturing,technical centers and customer service centers to support more than 60 vehicle manufacturers globally. The company's footprint spans five continents,with regional production and technology centers located in close proximity to OEM customers and digitally connected globally for optimal efficiency and collaboration across time zones and technical specialties.

ABOUT NEXTEER AUTOMOTIVE

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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