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New Deals: China Automotive To Ship Electric Power Steering Systems To Changan

July 13, 2010 (FinancialWire) — China Automotive Systems, Inc. (NASDAQ: CAAS), a power steering components and systems supplier in China, said that its subsidiary, Wuhan Jielong Power Steering Co. Ltd., has received a purchase order from Changan Automobile Co., for A10 electric power steering units.

Changan, one of the top five automotive manufacturers in China, has been a customer for CAAS's hydraulic power steering for two years. The company's EPS products have passed Changan's trial order and received positive feedback for its road test performance and quality standard, according to China Automotive. CAAS said it has now begun commercial shipments to Changan.

The company said that the most recent purchase order marks another milestone since China Automotive’s first shipments of EPS to Suzuki in September 2009.

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