On the morning of March 17, German multinational conglomerate
ThyssenKrupp officially renewed its partnership with Changzhou
National Hi-Tech District (CND), representing its sixth investment in the city
within six years.
ThyssenKrupp is investing altogether around 12.5
million euros in new production capacities for electronically
adjustable damper systems. The new production line will be fully
operational from 2022.
These damper systems use sensors to measure vibrations
throughout the journey and recognize the driving situation and condition
of the vehicle. All data are recorded in a control unit which optimizes
the damping forces on each individual damper, allowing the vehicle to
adapt automatically to all driving situations.
ThyssenKrupp is a 200-year-old firm with focus on industrial
engineering and steel production. Its sprawling empire includes subsidiaries
making elevators, steel, car parts, warships, chemical plants and submarines.
In 2014, ThyssenKrupp invested 25 million euros to set up
the ThyssenKrupp Steering System (Changzhou) Co., Ltd. The Changzhou facility
reported sales of 618 million yuan during its first year of operations.
Over the past six years, ThyssenKrupp has invested altogether
420 million US dollars in Changzhou.
In addition to the Changzhou plant,
ThyssenKrupp has already set up 10 steering system production sites across
China.
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