Nexteer Automotive and Continental Announce Joint Venture in Motion Control Systems

JV focuses on Electronic Steering and Braking Systems for future Automated Driving Applications

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Jan 10, 2017, 13:30 ET

DETROIT, Jan. 10, 2017 /PRNewswire/ -- Nexteer Automotive and Continental announced during a press conference at the North American International Auto Show their agreement to form a joint venture focused on the advancement of motion control systems and actuator components for automated driving. This joint venture will combine Nexteer's advanced steering and driver assistance (ADAS) technologies with Continental's portfolio of Automated Driving and advanced braking technologies to accelerate advancements in vehicle motion control systems.

"The joint venture will perfectly complete our product portfolio for automated driving. As a technology leader in the areas of assisted and automated driving, Continental will now combine its talent and expertise with Nexteer's advanced steering system competence to create the best integrated systems for longitudinal and lateral motion control for automated driving applications," said Frank Jourdan, member of Continental's Executive Board and President of the Chassis & Safety Division.

"The motion control venture will accelerate Nexteer and Continental's advancements in automated driving and achieve robust vehicle dynamics and safety. To that end, this team will work on braking and steering systems integration, enhanced by-wire development as well as create common safety architectures and strategies for redundant, operationally safe systems," said Frank Lubischer, Senior Vice President of Global Engineering, Chief Technology Officer and Chief Strategy Officer for Nexteer Automotive.

Nexteer and Continental will hold an equal 50-50 percent ownership position in the joint venture. The joint venture will focus on R&D activities including rapid evaluation, design and prototyping. Capitalizing on Nexteer and Continental's history of innovation and leadership in the automotive industry, the joint venture will combine global resources and expertise and focus on enhancing the development of advanced motion control systems and components for automated driving.

"This arrangement will create a way for both of our companies to collaborate on integrating state-of-the-art electronic brake and steering systems to achieve ideal vehicle dynamics and safety, as well as increasing value for our shareholders," Lubischer said.

Initially, the venture will employ team members leveraging existing technical talent from both Nexteer and Continental with plans for future growth. Pending regulatory approvals, it is expected that this project will be operational in the first quarter of 2017.

"We look forward to a collaboration which will develop breakthrough ideas to further develop systems that will improve safety as we look toward the future of automated driving," Jourdan said.

ABOUT CONTINENTAL
Continental develops intelligent technologies for transporting people and their goods. As a reliable partner, the international automotive supplier, tire manufacturer, and industrial partner provides sustainable, safe, comfortable, individual, and affordable solutions. In 2016, the corporation generated preliminary sales of around €40.5 billion with its five divisions, Chassis & Safety, Interior, Powertrain, Tire, and ContiTech. Continental currently employs more than 220,000 people in 55 countries.

ABOUT NEXTEER
Nexteer Automotive – A Leader in Intuitive Motion Control – is a multi-billion dollar global steering and driveline business delivering electric and hydraulic power steering systems, steering columns, driveline systems as well as advanced driver assistance systems (ADAS) and automated driving technologies for original equipment manufacturers. The company's global workforce of over 13,000 serves more than 50 customers in every major region of the world. The company has 24 manufacturing plants, five regional engineering centers and 11 customer service centers strategically located in North and South America, Europe and Asia. Nexteer Automotive's customers include BMW, Fiat Chrysler, Ford, GM, PSA Group, Toyota, and VW, as well as automakers in India and China. www.nexteer.com

SOURCE Continental