New Delhi, Jan 6 (PTI) Auto component makers Rane and ZF on Monday said they plan to introduce rack drive electric power steering system technologies in the domestic market.

The two companies plan to introduce the new product range through their existing joint venture -- ZF Rane Automotive India Pvt Ltd.

Also Read | AP SBTET Diploma Results For 2024-25 Released, Know Steps To Check Scorecard at sbtet.ap.gov.in.

Additionally, Rane and ZF have entered into a license agreement for column drive electric power steering system technology to be used exclusively by Rane Steering Systems for the Indian market, the companies said in a statement.

Rane Group shares over 35 years of relationship with ZF Group.

Also Read | What Is Whaling Attack? How To Prevent It? All About Phishing Scam That Targets High-Ranking Employees.

"The enhanced collaboration with ZF marks a significant milestone in our journey towards offering the next generation of steering technologies to our customers in India," Rane Group Chairman Harish Lakshman said.

ZF Group Head of Global Steering Product Line Theodor Kaster said that with the new phase of strategic partnership ZF and Rane together intend to offer the full range of electric power steering systems to customers in the Indian market.

"We also bundle our engineering forces and offer a unique service to our customers with excellent know-how of modern mechatronic systems," he added.

Headquartered in Chennai, Rane Group is engaged primarily in manufacturing auto components.

ZF is a global technology company supplying advanced mobility products and systems for passenger cars, commercial vehicles and industrial technology.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)