AUBURN HILLS, Mich. – Wabco Holdings announced today that it has signed a long-term cooperation agreement with Nexteer Automotive.
According to the agreement, both companies will collaborate to develop and supply active steering systems for medium- and heavy-duty commercial vehicles using Nexteer MagnaSteer Actuation Technology, a breakthrough product in advanced steering assistance. Wabco and Nexteer will integrate MagnaSteer’s proven technology with Sheppard’s suite of power steering gears, which has set the industry standard for heavy-duty commercial and specialty vehicles.
As previously disclosed, Wabco has signed an agreement to acquire Sheppard, subject to customary U.S. regulatory clearance. The acquisition is expected to be completed by the end of the third quarter 2017.
Through an existing exclusivity agreement between Nexteer and Sheppard, Wabco can offer a compact, cost-effective, breakthrough technological solution that enables active steering control for commercial vehicle manufacturers in North America. In addition, WABCO has access to this technology for all medium- and heavy-duty commercial truck markets outside North America.
“This cooperation agreement marks another key milestone as Wabco advances toward enabling self-driving commercial vehicles,” said Jorge Solis, Wabco president, Truck, Bus and Car Original Equipment Manufacturers Division. “We have a clear line of sight on the fundamental technologies – such as active steering, active braking, electronic stability control and other advanced driver assistance systems – which will enable significant intermediary steps on our industry’s path to realize fully autonomous driving.”
“We are excited to partner with Wabco,” added Brian Darling, product line executive, Nexteer Automotive. “Our industry-leading MagnaSteer will be fully integrated into the strategy of this industry leader on an exclusive basis in the medium- to heavy-duty commercial truck market to create opportunities for further growth.”