China Automotive Systems (CAAS) Purchases 40% of European Vehicle Technology Leader and Officially Enters Autonomous Driving

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China Automotive Systems Purchases 40% of European Vehicle Technology Leader and Officially Enters Autonomous Driving

June 9, 2021 7:00 AM EDT

WUHAN, China, June 9, 2021 /PRNewswire/ -- 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"), purchased a 40% interest in the issued share capital of Sentient AB ("Sentient"), a Swedish automotive technology company specializing in software development and hardware design for advanced steering functions, vehicle motion control and autonomous driving.

In the transaction, Jingzhou WiseDawn Electric Car Co., Ltd. ("WiseDawn") will transfer and... More