Hubei Henglong Automotive Systems Buys 40% Stake In Swedish Automotive Tech Co. Sentient

(RTTNews) - China Automotive Systems, Inc. (CAAS) Wednesday announced that Hubei Henglong Automotive Systems Group Co. Ltd., a unit of the company, has bought 40% stake in Sentient AB, a Swedish automotive technology company.

Jingzhou WiseDawn Electric Car Co., Ltd. will sell its Sentient shares to Henglong for about 20 million euros, to be paid in cash in three tranches.

Two directors of CAAS, Hanlin Chen and Qizhou Wu, are the majority and minority owners of WiseDawn.

Founded in 2009, Sentient provides software development and hardware design for advanced steering functions, vehicle motion control and autonomous driving.

"With the rise of artificial intelligence and electrification taking the automotive sector by storm, we are committed to elevating our steering technologies for the advancement and empowerment of autonomous driving in the foreseeable future. By joining our combined resources, technology and customer bases in China, Europe, the US and South America, we look forward to capturing more market opportunities and expanding our market share globally," Qizhou Wu, chief executive officer of CAAS, commented.