Hangzhou Xinshibao Electric Power Steering System Co., Ltd. was established on January 4, 2011, with registered capital of 60 million RMB. It plans to invest 160 million RMB in the next three years. The company is committed to the research and development of automotive electric power steering system (EPS = Electric Power Steering), including the mechanical structure of the whole machine, non-contact torque sensor (TS) and electronic control unit (ECU). It plans to produce and sell 600,000 EPS systems in the next five years. The product is highly mechatronics, which is a necessary first-class supporting component for new energy vehicles. At present, 10 types of engines are being developed for use in gasoline engine cars, hybrid electric vehicles and pure electric vehicles. The main customers are FAW cars, FAW Tianjin, Suzuki Changhe and Chery cars.
Hangzhou Pliocene Treasure is located in the beautiful city of Hangzhou and in the Hangzhou Economic and Technological Development Zone (national level). The company has 46 mu of land, 13,000 m workshop, more than 120 EPS key parts manufacturing equipment, two EPS assembly lines and quality assurance equipment. It has an annual production capacity of 250,000 sets of EPS, 300,000 sets of torque sensing and 300,000 sets of ECU. The company has set up technology centers, manufacturing centers and functional departments with 120 employees (October 2011) and plans to grow to 400 in the next four years. The C-EPS developed by the company has begun to support Q Automobile Company in batches. P-EPS will begin to support C Automobile Company in batches (October 2011). Another C-EPS will support T Automobile Company in March 2012. Hangzhou Xinshibao is confident that under the leadership of overseas experts, it will become a leading enterprise in the same industry in China. With the concept of "talent is enterprise capital, talent is competitive capital and talent is development capital", the company strives for the common development of employees and the company.