© Reuters Auto Provider ZF Group Indicators Cope with Nio (NIO)
By Michael Elkins
October eleventh, German auto components provider, ZF Group signed a strategic cooperation settlement with electrical car maker, Nio Inc (NYSE:) to cooperate on steering-by-wire merchandise and different fields.
Underneath the settlement, the 2 firms will set up an on the spot info sharing mechanism to step up communication and conduct common technical exchanges, in a bid to collectively hammer out industry-leading processes and high quality requirements.
The signing of this settlement additionally marks the primary time that ZF Group has secured a steer-by-wire enterprise deal within the Asia-Pacific area. It additionally signifies that either side are dedicated to selling reform and improvement in lots of fields similar to automated driving and car electrification.
Shares of NIO are down 7% close to finish of day buying and selling on Friday.
Originally published at Gold Coast News HQ
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