Shanghai-based Chinese steel giant Baosteel signs a cooperation contract with Hebei-based Chinese automobile maker Great Wall Motor Company Limited, according to media reports.
Under the contract, the two parties will get together to develop the new material and technology, such as high strength steel and laser welding tailored blanks, hot pressing technology and hydraulic forming press. Accordingly, the cooperation between the companies went beyond product supply and now includes technical research. Besides, Baosteel will learn about Great Wall Motor's new car style and demand and provide technical and service support to the auto maker.