Auto component manufacturer ZF Steering Gear (India) Limited has entered into a framework co-operation agreement with China-based Hubei Tri-Ring Motor Steering Gear Co. Limited. The agreement establishes an initial framework to explore the joint development of Electric Hydraulic Power Assisted Steering (EHPAS) assemblies within India.
In a regulatory disclosure filed under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015, the Pune-headquartered company stated that the current arrangement is preliminary in nature. According to the filing, the document serves primarily as a structural basis for further technical and commercial discussions between the two automotive component manufacturers.
The management confirmed that the proposed business cooperation does not constitute a related-party transaction and is being conducted in the ordinary course of business operations. Further definitive terms or formal production timelines regarding the localization of the electric hydraulic steering assemblies have not yet been finalized by the participating entities.