On March 29, 2019, WABCO announced that its subsidiary, Chipaida, which is committed to the development and production of commercial vehicle steering systems, has renewed a long-term agreement worth $180 million with an automobile manufacturer (OEM). American truck brands offer power steering.
WABCO Automotive Control Systems Co., Ltd.
Under the agreement, Chipaida will supply its leading M-series and D-series power steering units, covering a wide range of 5-8 intermediate and heavy-duty trucks for the OEM's two leading brands. The OEM is one of the largest truck manufacturers in North America and its business in overseas markets is growing.
Jon Morrison, president of WABCO Americas, said: "As a long-term trusted strategic partner of this global manufacturer, we are pleased to add hydraulic power steering to a range of advanced technology portfolios."
Since its acquisition in Chipaca in 2017, WABCO has taken the initiative to achieve breakthroughs in breakthrough technologies such as active braking, electronic stability control systems and other advanced driver assistance systems for its global commercial vehicle industry. The vision of autonomous driving has laid an important milestone.
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