China Automotive Systems Sees Sales Of Over 200,000 Steering Units For Chinese EV Vehicles In 2021

(RTTNews) - China Automotive Systems, Inc. (CAAS) said it shipped approximately 120,000 units from its portfolio of electric power steering products for use in Chinese electric vehicles during 2020. Given the sales momentum, the company anticipates to sell over 140,000 steering units for use in Chinese EV models in 2020 and to reach approximately 200,000 units in 2021.

Hanlin Chen, chairman of CAAS, said, "These sales continue our long trend of providing advanced steering products to the largest automobile manufacturers in China. We have shipped a large number of our EPS steering products to Great Wall Motors for their new EV model in 2020, and will continue to ship to them in 2021."