China Automotive Systems Secures $100M R-EPS Steering Contract with Major European Automaker

Reuters

05-21

China Automotive Systems Secures $100M R-EPS Steering Contract with Major European Automaker

China Automotive Systems, Inc. $(CAAS)$, a prominent supplier of power steering components and systems in China, has secured its first R-EPS product order from a major European automobile manufacturer. Jingzhou Henglong Auto Parts Manufacturing Co., Ltd., CAAS's largest subsidiary, will supply R-EPS systems for multiple vehicle models of the client, with annual sales projected to exceed US$100 million. Mass production for this order is slated to begin in 2027. This achievement highlights Jingzhou Henglong's technical prowess in high-end electric power steering systems and marks a significant milestone in CAAS's global expansion strategy. The company plans to boost its R-EPS production capacity to over 1 million units by 2030, addressing the rising demand from various automobile OEMs.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. CAS - China Automotive Systems Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: CN93077) on May 21, 2025, and is solely responsible for the information contained therein.

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While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. CAS - China Automotive Systems Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: CN93077) on May 21, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CAAS","symbol_name":"中汽系统","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250521:nNDL9t5ldC:1","article_id":"2537989904","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2537989904","pubTimestamp":1747821643,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"China Automotive Systems, Inc. , a prominent supplier of power steering components and systems in China, has secured its first R-EPS product order from a major European automobile manufacturer. 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