China Automotive Systems' South American Unit Sales to Increase Approximately 200% In 2021
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WUHAN, China, April 15, 2021 /PRNewswire/ --
China Automotive Systems, Inc. (Nasdaq: CAAS) ("CAAS" or the "Company"), a leading power steering components and systems supplier in China, today announced that its joint venture, Brazil Henglong, expects an approximate 200% increase in its steering unit sales to its OEM customers in South America, primarily to Stellantis N.V., for the 2021 year.
Brazil Henglong has started to supply five new Stellantis vehicle models in 2021 increasing its total to 12 vehicle models. The Company supplies steering products for Stellantis' s SUVs, pick-up trucks and sedans.