China Automotive Systems (CAAS) Receives SGS TUV Certification

China Automotive Systems, Inc. (Nasdaq: CAAS) ("CAAS" or the "Company"), a leading power steering components and systems supplier in China, today announced that its wholly owned subsidiary, Hubei Henglong Automotive Systems Group Co. Ltd. ("Henglong"), received the SGS TÜV ISO26262:2018 ASIL-D certification.

This certification demonstrated that Henglong has established the highest functional safety product development procedure by SGS TÜV, ASIL-D system, to meet all the requirements by the ISO26262:2018 standard. With increased complexity of vehicle systems, ISO26262:2018 provides a reliable safety standard guidance for the entire life cycle of a vehicle that encompasses management, development, production, sales, services and recycling. ISO26262:2018 mandates a thorough functional safety development procedure that covers product planning, design, production, assembly, testing, confirmation, and installation. Classifying both software systems and hardware components with different safety risks, ISO26262:2018 ASIL (Automotive Safety Integrity Level) features safety standards from A to D, with D being the highest and most stringent safety standard.

SGS is the world's leading inspection, verification, testing and certification company. Founded in 1878, the SGS standard is recognized as the global benchmark for quality and integrity. With more than 90,000 employees, SGS operates a network of more than 2,000 offices and laboratories around the world. The SGS-TÜV functional safety team, as an accredited body for functional safety, operates globally to ensure that products and systems are safe and ready for world markets. ISO26262:2018 applies to safety-related systems that include one or more electrical and/or electronic systems that are installed in a series of production road vehicles.

Mr. Qizhou Wu, chief executive officer of CAAS, commented, "We are fully committed to best-in-class quality to meet the demand of our customers in China and abroad. Coinciding with the newly introduced GB17675-2021 standard by the Chinese government, this SGS-TÜV certification further endorses our excellence in quality and separates us from smaller competitors in the marketplace."

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