DETROIT, Jan. 11, 2021 /PRNewswire/ -- American Axle
& Manufacturing Holdings, Inc. (AAM) (NYSE: AXL), a leading
global automotive supplier of driveline and metal forming
technologies, and Suzhou Inovance Automotive Ltd. (Inovance
Automotive), a leading provider of automotive power
electronics and powertrain systems in China, today announced a technology
development agreement that will accelerate the development and
delivery of scalable, next-generation 3-in-1 electric drive
systems, which integrates an inverter, electric motor and
gearbox.
AAM and Inovance Automotive will focus on the advancement of
highly integrated 3-in-1 electric drive systems leveraging the
partners' complimentary expertise in electric-propulsion
technology. The collaboration will seek to enhance the power
density, efficiency and cost effectiveness of the electric drive
technology offered in the global NEV market.
"The global electric drive market continues to expand as
increasingly stringent emissions regulations require innovative
propulsion system solutions," said David C.
Dauch, AAM Chairman and Chief Executive Officer. "Our
cooperation with Inovance Automotive will add an exciting new
offering to AAM's fast-growing portfolio of scalable 3-in-1
electric drive systems and accelerate our ability to bring new cost
competitive technologies to market. We are excited to join forces
with such a highly accomplished and innovative provider of power
electronics technology."
Li Juntian, CEO of Inovance Automotive added: "Inovance
Automotive is dedicated to providing world-class solutions to the
New Energy Vehicle market. We look forward to collaborating with
AAM to expand our global product and customer reach while producing
innovative integrated electric drive units for the next generation
of electric and hybrid vehicles."
AAM and Inovance are launching 3-in-1 electric drive units
supporting four customer programs from AAM's Changshu Manufacturing
Complex beginning with the first 135 kW model for a Chinese OEM in
first quarter of 2021.
The partnership between AAM and Inovance Automotive will
strengthen both companies' positions as leading providers of
electric-propulsion technology in China and the global automotive markets with
next generation integrated electric drive units that offer
best-in-class power density and efficiency.
ABOUT AAM
AAM (NYSE: AXL) delivers POWER that moves the world. As a
leading global tier 1 automotive supplier, AAM designs, engineers
and manufactures driveline and metal forming technologies that are
making the next generation of vehicles smarter, lighter, safer and
more efficient. Headquartered in Detroit, AAM has approximately 20,000
associates operating at nearly 80 facilities in 17 countries to
support our customers on global and regional platforms with a focus
on quality, operational excellence and technology leadership. To
learn more, visit aam.com.
About AAM's Electric Drive Technology
AAM's all-new Electric Drive Technology is designed, engineered
and manufactured to provide global automakers a product portfolio
of hybrid and electric driveline systems that range from low-cost,
value-oriented offerings to high-performance solutions. Using
innovative design features and extensive experience in power
density, torque transfer, noise-vibration-harshness reduction, heat
management and systems integration, AAM developed industry-leading,
scalable products suitable for every vehicle segment.
ABOUT SUZHOU INOVANCE AUTOMOTIVE CO., LTD.
Suzhou Inovance Automotive Co., Ltd is a subsidiary of Inovance
Group, a leading global provider of industrial automation
solutions. With a full range of drive and power solutions, 600,000
applications and a high-performance R&D team, Inovance
Automotive is China's first
ISO26262 certified inverter manufacturer and is dedicated to
provide world class ePowertrain components and systems for both
electric and hybrid solutions.
This press release may contain "forward-looking" statements
that are subject to risks and uncertainties described in our most
recent filings on Form 10-K and Form 10-Q with the Securities and
Exchange Commission, and actual results may differ
materially.
For more information:
Investor Contact
David Lim
Head of Investor Relations
(313) 758-2006
david.lim@aam.com
Media Contact
Christopher M. Son
Vice President, Marketing & Communications
(313) 758-4814
chris.son@aam.com
Or visit the AAM website at www.aam.com.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/aam-and-inovance-automotive-form-technology-development-agreement-focused-on-next-generation-electric-drive-technology-301205150.html
SOURCE American Axle & Manufacturing Holdings, Inc.