Nexteer Automotive

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Nexteer Automotive
TypePublic
IndustryAutomotive
PredecessorDelphi Steering
Founded2009[1]
FounderGM
Headquarters1272 Doris Rd, Auburn Hills, Michigan,
United States
Number of locations
45 (2021)
Area served
Worldwide
Key people
Guibin Zhao[2] (CEO)
Robin Milavec[2] (President)
Hervé Boyer[2] (VP, Global COO and NA Division President)
Productspower steering systems, Steering Columns, Driveline
RevenueDecrease $3.03 billion (2020)[3]
Decrease $165.4 million (2020)[3]
Decrease $116.8 million (2020)[3]
Total assetsIncrease $3.3 billion (2020)[3]
Total equityIncrease $1.92 billion (2020)[3]
Number of employees
Decrease 12,100 (Q4 2020)[3]
ParentPacific Century Motors[1]
Websitehttps://www.nexteer.com/

Nexteer Automotive (SEHK: 1316) is an American, majority Chinese-owned automotive parts supplier owned by Pacific Century Motors and headquartered in Auburn Hills, Michigan, United States.[4] Nexteer is a business delivering electric and hydraulic power steering systems, steering columns, driveline systems, as well as advanced driver assistance systems (ADAS) and automated driving enabling technologies for original equipment manufacturers (OEMs). The company has 27 manufacturing plants, three technical centers, one software center and 13 customer service centers located in North and South America, Europe, Asia and Africa. The company serves more than 60 customers in every major region of the world including BMW, Changan, Dongfeng Peugeot Citroën Automobile, Ford, General Motors, Maruti Suzuki India, Renault-Nissan Mitsubishi Alliance (RNM), SAIC General Motors, SAIC-GM-Wuling Automobile (SGMW), Stellantis (formerly Fiat Chrysler Automobiles and Groupe PSA), Toyota and Volkswagen as well as domestic automakers in India, China and South America.[3]

History[]

Nexteer's original predecessor was founded in 1906 under the name Jackson, Wilcox and Church. Their product was named the Jacox gear. In 1909, the unit was purchased by Buick then was transferred to parent company General Motors as the Jackson, Church and Wilcox Division. The division was renamed Saginaw Product Company in 1919 and Saginaw Steering Gear Division in 1928. The trade name of Jacox was changed to Saginaw in 1930. Saginaw Steering for 90 years was a part of GM. Saginaw Division became the division's name in 1985. The Saginaw Division is grouped with other GM component units into Automotive Components Group.[5] GM in 1999 spun off its parts group as Delphi Automotive including Saginaw Steering. Saginaw Division was renamed Delphi Steering.[6]

Nexteer[]

With Delphi entering a lengthy bankruptcy proceeding, GM purchased Delphi Steering through their subsidiary, GM Global Steering Holdings LLC, in 2009 and renamed the company, Nexteer Automotive.[7] GM moved to have the union change their contract with Nexteer in order to prepare the company for a sale as Nexteer had multiple customers besides GM. After the first offered agreement, GM warned the employees that this may hamper finding a buyer; the results being that GM may just shut Nexteer down. A second agreement was ratified by the union.[6] The gave a $70.7 million state tax credit over ten years to Nexteer in November 2009. Nexteer announced that same month investment plans totaling $400 million across the board and keeping its headquarters in Buena Vista Township. The Township responded with a 100 percent 20 year tax abatement.[8] Nexteer was acquired by Pacific Century Motors on November 29, 2010.[1] After the purchase, Nexteer was split into two separate companies.

Nexteer originally was going to go public on the Hong Kong Stock Exchange in June 2013,[9] but the IPO was delayed until October 2013.[10]

The company relocated its headquarters to Auburn Hills, Michigan in 2015.[11]

Technology[]

History[]

  • 1906: Manual Steering
  • 1951: Hydraulic Assisted Steering
  • 1960s: Tilt-Wheel Steering Columns, Front-Wheel Drive Halfshafts, Energy-Absorbing Column
  • 1970s: Air Bag Column, First Rack and Pinion Gear
  • 1980s: Global Engineering
  • 1995: Speed Variable Assist, Electric Power Steering
  • 1999: Power Tilt Telescope Column, Quadrasteer
  • 2004: Active Energy-Absorbing Column, Tri-Glide Halfshaft Joint
  • 2009: Single Pinion Electric Power Steering
  • 2010: World’s first 12-Volt Electric Power Steering Systems
  • 2011: Full Size Truck Rack Electric Power Steering[12] and CrossGlide Joint
  • 2013: Magnetic Torque Overlay
  • 2017: CNXMotion, a joint venture between Nexteer & Continental 
  • 2018: Advanced Steering Technology Suite, including Steer-by-Wire

Products[]

  • Steering Systems: active steering, electric power steering, hydraulic power steering and torque overlay
    • Electric Power Steering: Since 1999, Nexteer Automotive has put more than 70 million EPS units on the road.[13]
  • Steering Components: columns; electronics, modules & sub-assemblies; intermediate shafts.
  • Driveline Products: front-wheel drive halfshafts, rear-wheel drive halfshafts, intermediate drive shafts, propeller shaft joints, advanced technology.
  • Assisted & Automated Driving Enablers

References[]

  1. ^ Jump up to: a b c "Nexteer Automotive Inc.:Private Company Information". Business Week.com. Bloomberg. Retrieved 15 April 2011.
  2. ^ Jump up to: a b c "Nexteer Global Leadership".
  3. ^ Jump up to: a b c d e f g "Nexteer Annual Report 2020" (PDF).
  4. ^ "Nexteer Automotive – A Leader in Intuitive Motion Control | Locations". www.nexteer.com. Retrieved 30 March 2017.
  5. ^ Alan K. Binder and Deebe Ferris, editors (2000). General Motors in the Twentieth Century. Ward’s Communications. via
    "GM Heritage, Generations of GM History, Saginaw Steering".
  6. ^ Jump up to: a b Bunkley, Nick. "G.M. Sells Parts Maker to a Chinese Company". New York Times. Retrieved 15 April 2011.
  7. ^ "GM buys Delphi steering operations". ABC News. 2009-03-04. Retrieved 2018-04-10.
  8. ^ Lynch-Morin, Kathryn (July 8, 2010). "New chapter begins today for Saginaw's Nexteer after purchase by Chinese auto-parts maker announced". The Saginaw News. Retrieved 15 April 2011.
  9. ^ "Nexteer may launch IPO in June". WNEM.com. Meredith Corporation. June 5, 2013. Retrieved January 22, 2015.
  10. ^ "Annual Report 2013" (PDF). Nexteer.com. Nexteer Automotive. Retrieved January 22, 2015.
  11. ^ Johnson, Bob (May 6, 2019). "Layoffs looming at Nexteer Automotive has local officials, businesses concerned". The Saginaw News. MLive Media Group. Retrieved May 8, 2019.
  12. ^ "Nexteer Automotive Provides World's 1st 12-Volt Electric Power Steering Systems in 2011 Ford F-150" (PDF). Nexteer Automotive. Archived from the original (PDF) on 23 August 2011. Retrieved 9 June 2011.
  13. ^ "Electric Power Steering reaches production milestone" (PDF). Nexteer Automotive. Archived from the original (PDF) on 23 August 2011. Retrieved 9 June 2011.

[1] [2]

  1. ^ "Nexteer About". Nexteer Automotive. Retrieved 2 June 2020.
  2. ^ "Nexteer Locations". Nexteer Automotive. Retrieved 2 June 2020.
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