Nexteer Automotive and Continental announced during a press conference at the North American International Auto Show their agreement to form a joint venture focused on the advancement of motion control systems and actuator components for automated driving. This joint venture will combine Nexteer's advanced steering and driver assistance (ADAS) technologies with Continental's portfolio of Automated Driving and advanced braking technologies to accelerate advancements in vehicle motion control systems. Nexteer and Continental will hold an equal 50-50% ownership position in the joint venture.  The joint venture will focus on R&D activities including rapid evaluation, design and prototyping. Capitalizing on Nexteer and Continental's history of innovation and leadership in the automotive industry, the joint venture will combine global resources and expertise and focus on enhancing the development of advanced motion control systems and components for automated driving. Initially, the venture will employ team members leveraging existing technical talent from both Nexteer and Continental with plans for future growth. Pending regulatory approvals, it is expected that this project will be operational in the first quarter of 2017.