LIVONIA, Mich., April 23, 2014 /PRNewswire/ -- TRW Automotive Holdings Corp. (NYSE: TRW) will supply its Belt Drive Electric Power Steering (EPS) system to a next generation mid-sized Sport Utility Vehicle (SUV) being launched by Chinese automaker Great Wall Motor Company in 2015. Sport Utility Vehicles are the fasting growing vehicle segment in the rapidly expanding Chinese market with a 43% sales increase from 2013 compared to 2012 according to IHS data.
"TRW's Belt Drive system is an ideal choice for mid to large size SUVs as larger vehicles require greater steering rack forces," said Peter Lake, executive vice president, Sales and Business Development. "As Chinese consumers continue to desire the greater flexibility and utility of SUVs, TRW has the local capacity to satisfy demand for these vehicles."
TRW has created a regional production base for providing a cost effective source for the fuel-saving and emission reducing EPS technologies.
Over the last two years, TRW has installed equipment to produce and assemble belt drive units at its Anting facility. Line capacity is in the range of 800,000 units annually.
TRW offers two Electrically Powered Steering (EPS) solutions to cover the full vehicle platform range, which consume power only when steering assist is needed. The first is the column drive unit which is mounted on the steering column and the second is belt drive where the assist power is applied directly to the rack with a belt drive and ball nut mechanism. Significant fuel economy and CO2 emissions benefits can be realized with both systems when compared with traditional hydraulic power steering. The technology can deliver a fuel saving of 0.3 to 0.4 L/100km, with a corresponding reduction in carbon dioxide emissions of approximately 7-8g/km.
"We have already launched our column drive technology with both China domestic and international customers and are now introducing our latest innovation – EPS belt drive – in China," said Lake. "We are pleased to be supporting China's largest SUV manufacturer, Great Wall, as they launch new vehicles into the market."
With 2013 sales of $17.4 billion, TRW Automotive ranks among the world's leading automotive suppliers. Headquartered in Livonia, Michigan, USA, the Company, through its subsidiaries, operates in 24 countries and employs approximately 65,000 people worldwide. TRW Automotive products include integrated vehicle control and driver assist systems, braking systems, steering systems, suspension systems, occupant safety systems (seat belts and airbags), electronics, engine components, fastening systems and aftermarket replacement parts and services. All references to "TRW Automotive", "TRW" or the "Company" in this press release refer to TRW Automotive Holdings Corp. and its subsidiaries, unless otherwise indicated. TRW Automotive news is available on the internet at www.trw.com.
This release contains statements that are not statements of historical fact, but instead are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. We caution readers not to place undue reliance on these statements, which speak only as of the date hereof. All forward-looking statements are subject to numerous assumptions, risks and uncertainties which could cause our actual results to differ materially from those suggested by the forward-looking statements, including those set forth in our Annual Report on Form 10-K for the fiscal year ended December 31, 2013 (our "Form 10-K"), such as: economic conditions adversely affecting our business, results or the viability of our supply base; risks associated with non-U.S. operations adversely affecting our business, results or financial condition; the unsuccessful implementation of our current expansion efforts adversely impacting our business or results; any developments related to antitrust investigations adversely affecting our financial condition, results, cash flows or reputation; pricing pressures from our customers adversely affecting our profitability; global competition adversely affecting our sales, profitability or financial condition; any disruption in our information technology systems adversely impacting our business and operations; any shortage of supplies causing a production disruption for any customers or us; the loss of any of our largest customers or a significant amount of their business, or a significant decline in their production levels, materially adversely affecting us; strengthening of the U.S. dollar and other foreign currency exchange rate fluctuations impacting our results; our contingent liabilities and tax matters causing us to incur material losses or costs; any inability to protect our intellectual property rights adversely affecting our business or our competitive position; commodity inflationary pressures adversely affecting our profitability or supply base; costs or adverse effects on our business, reputation or results from governmental regulations; work stoppages or other labor issues at our facilities or those of our customers or others in our supply chain adversely affecting our business, results or financial condition; and other risks and uncertainties set forth in our Form 10-K and in our other filings with the U.S. Securities and Exchange Commission. We do not undertake any obligation to release publicly any update or revision to any of the forward-looking statements.
SOURCE TRW Automotive Holdings Corp.