DaimlerChrysler AG subsidiary Mercedes-Benz Lenkungen GmbH and Siemens Automotive will soon begin jointly developing power steering and complete steering systems for vehicles. The two companies, which plan to invest more than $120 million in the joint development initiative in the coming years, expect the new steering system to hit high-volume production by 2002. Current projections call for approximately 3 million electromechanical steering systems annually, Siemens says. The steering ...

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