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WUHAN, China, Dec. 19, 2018 /PRNewswire/ — China Automotive Systems, Inc. CAAS, -9.33%  (“CAAS” or the “Company”), a arch ability council apparatus and systems supplier in China, today appear it has amorphous a development affairs for a new recirculating-ball council (“RCB”) council arrangement (“i-RCB Program”) in bike with Chrysler’s Free Agent artefact development.

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Started in the abatement of 2018, the i-RCB Affairs is currently in the Design Verification (“DV”) analysis phase. The Company expects to activate accumulation assembly in August 2019 with anniversary sales of about 45,000 units. In accession to orders from Chrysler North America, the technology of i-RCB has cogent added bazaar opportunities in the Chinese calm able barter market.

Intelligent amalgam ability council combines acceptable RCB with electric ability council (“EPS”) to adviser or ascendancy basal functions such as council speed, alive returning, absolute steering, and emergency steering. In addition, able amalgam ability council provides continued functions such as lane ecology with abandonment admonishing and crosswind compensation.

Mr. Qizhou Wu, Chief Executive Officer of CAAS, commented, “Autonomous active is already on the artefact roadmap of abounding US and Chinese auto makers. Council is a analytical basic in the free active ecosystem as on-road beheading is acute for assurance measures. Our about ten-year clue almanac with Chrysler anchored us to be the trusted supplier best for their able new artefact in a key civil bazaar trend. Domestically, we are accepting austere discussions with a few ample OEMs in the bartering agent sector.”

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About China Automotive Systems, Inc.

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Based in Hubei Province, the People’s Republic of China, China Automotive Systems, Inc. is a arch supplier of ability council apparatus and systems to the Chinese automotive industry, operating through eight Sino-foreign collective ventures. The Company offers a abounding ambit of council arrangement genitalia for commuter automobiles and bartering vehicles. The Company currently offers four abstracted alternation of ability council with an anniversary assembly accommodation of over 6 actor sets of council gears, columns and council hoses. Its chump abject is comprised of arch auto manufacturers, such as China FAW Group, Corp., Dongfeng Auto Group Co., Ltd., BYD Auto Company Limited, Beiqi Foton Motor Co., Ltd. and Chery Automobile Co., Ltd. in China, and Chrysler Group LLC in North America. For added information, amuse visit: http://www.caasauto.com.

Forward-Looking Statements

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This columnist absolution contains statements that are “forward-looking statements” as authentic beneath the Private Securities Litigation Reform Act of 1995. Advanced statements represent our estimates and assumptions alone as of the date of this columnist release. These advanced statements accommodate statements apropos the qualitative and quantitative furnishings of the accounting errors, the periods involved, the attributes of the Company’s analysis and any advancing abstracts of the Company or its administration and added statements that are not absolute facts. Our absolute after-effects may alter materially from the after-effects declared in or advancing by our advanced statements due to assertive risks and uncertainties. As a result, the Company’s absolute after-effects could alter materially from those independent in these advanced statements due to a cardinal of factors, including those declared beneath the branch “Risk Factors” in the Company’s Form 10-K anniversary address filed with the Securities and Exchange Commission on March 29, 2018, and in abstracts after filed by the Company from time to time with the Securities and Exchange Commission. We especially abandon any assignment to accommodate updates to any advanced statements fabricated in this columnist release, whether as a aftereffect of new information, approaching contest or otherwise.

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For added information, amuse contact:

Jie Li Chief Financial Officer China Automotive Systems, Inc. Email: [email protected]

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Kevin Theiss Awaken Advisors 1-212-521-4050 [email protected]

View aboriginal content:http://www.prnewswire.com/news-releases/china-automotive-systems-develops-new-steering-system-for-chrysler-autonomous-vehicle-project-300768649.html

SOURCE China Automotive Systems, Inc.

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Copyright (C) 2018 PR Newswire. All rights aloof

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