NSK Ltd. and Toshiba Corp. plan to co-develop electric power steering systems, combining the former's machinery technologies and the latter's electronics prowess.
The partners have established joint venture ADTech with a capitalization of 200 million yen, with NSK taking a 51% stake and Toshiba the other 49%.
This new firm will develop safety and power-saving features. NSK -- the world's second-largest manufacturer of electric power steering systems -- will handle the overall design and production, while Toshiba is expected to offer software. The goal is to commercialize the new products in 2013.
About 30 of ADTech's 60 employees are Toshiba engineers specializing in developing circuitry and software.
Around 40% of new vehicles worldwide have electric power steering -- a ratio expected to rise because these systems can help vehicles achieve 5% higher fuel economy than hydraulic power steering.
Toshiba is expanding its automobile-related business. It intends to boost the segment's sales from the 200 billion yen or so projected for fiscal 2010 to around 700 billion yen in fiscal 2015. The firm this year decided to supply motors for hybrid vehicles to U.S. carmaker Ford Motor Co. and reached an agreement with Mitsubishi Motors Corp. to develop lithium ion batteries for electric vehicles.
NSK decided to tap Toshiba's know-how because of the growing importance of electronics in electric power steering.
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