DETROIT, Feb. 9, 2022 /PRNewswire/ -- American Axle
& Manufacturing is committing $15
million to Autotech Ventures in a partnership that will
provide access to new opportunities that complement AAM's mission
to develop and produce the industry's most efficient and powerful
electric drivelines.
Autotech Ventures is an early-stage Silicon Valley venture
capital firm focused on tech start-ups in the global ground
transportation industry. With over $400
million under management, Autotech aims solve the world's
most challenging transport problems while positively impacting
society and the environment.
"AAM and Autotech share a commitment to developing the next
generation of mobility companies focused on electrification and
growth," said David C. Dauch, AAM
Chairman and Chief Executive Officer. "We look forward to working
with Autotech and the new technology companies that will further
advance AAM's work in bringing the future of mobility faster."
AAM's commitment to Autotech provides exposure to new startup
and fully-vetted high-tech companies who are advancing automotive
technologies in the electrification, connectivity, autonomy,
sharing and digitization sectors. Autotech provides startups with
capital, ground transportation market intelligence, and access to a
transportation network.
AAM is seeking to leverage Autotech's portfolio and expertise to
identify new opportunities with start-up companies to advance
innovation in product, process and systems technologies supporting
electrification and other new mobility initiatives.
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.
Media Contact:
Andrea Knapp
andrea.knapp@aam.com
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SOURCE American Axle & Manufacturing Holdings, Inc.