Gestamp sets up R&D unit in Shanghai

Spanish engineering company Gestamp has launched a research and development center in Shanghai to work closely with Chinese automobile manufacturers, a senior executive said on Wednesday.

The R&D center, which specializes in the production of lighter and safer vehicle bodies, is aiming to enhance its ties with Chinese original equipment manufacturer (OEM) clients.

According to Gestamp, its expanding speed in the Chinese market has outgrown its growth in the overall global market by six times, and it has become the company's fourth largest market.