On the morning of June 18, Changzhou National High-tech Zone held a signing ceremony for key projects in the second quarter of 2020. German auto parts giant ThyssenKrupp once again increased its capital by US$200 million, and plans to build a global steering system manufacturing center project in Changzhou National High-tech Zone. . This is the fifth investment from ThyssenKrupp to the business unit starting in 2015 and within 5 years in Changzhou High-tech Zone. The total registered capital of the 5 investments is approximately 116 million euros. In the future, the Changzhou plant will become ThyssenKrupp's largest steering system manufacturing base in the world, and will double its annual sales in 3 to 5 years.
ThyssenKrupp is a traditional large German industrial group with a history of more than 200 years. The group has steel and auto parts divisions. Nine years ago, ThyssenKrupp's camshaft business unit invested in Changzhou High-tech Zone for the first time. At present, the base has developed into one of the group's largest camshaft production bases in the world.