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.
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