UHAN, Hubei, China -- China Automotive Systems, Inc, a leading power steering components and systems supplier in China, today announced that its subsidiary, Jingzhou Henglong Automotive Parts Co. (Henglong), has signed a supply agreement with Dongfeng Peugeot Citroen Automobile Co. Ltd. (DPCA).

Beginning from July, Henglong will ship 3000 units of power steering gears per month to DPCA for its Dongfeng Peugeot 206 model. DPCA and Henglong are also in the process of finalizing commercial orders for two other models -- Dongfeng Elysee R23 and Dongfeng Picasso N68.

Mr. Qizhou Wu, Chief Executive Officer of China Automotive Systems, stated, "After winning the FAW Volkswagen contract last year, we are excited to enter another European automakers' auto parts purchasing system in China. After an almost three-year evaluation, Peugeot has approved the performance and quality of our products to be installed in their flagship vehicles in China. We will continue to focus on broadening our product offerings and maintaining high-quality standards to win key contracts from major automakers in China.''

According to China Association of Automobile Manufacturers, Dongfeng Peugeot Citroen Automobile Co. Ltd. produced over 213,000 vehicles and sold 207,000 vehicles in 2007. Peugeot was consistently ranked in a top 10 sedan producer in China since 2005.

Based in Hubei Province, People's Republic of China, China Automotive Systems, Inc. is a leading supplier of power steering components and systems to the Chinese automotive industry, operating through seven Sino-foreign joint ventures. The Company offers a full range of steering system parts for passenger automobiles and commercial vehicles. The Company currently offers 4 separate series of power steering and 307 models of power steering with an annual production capacity of 1.1 million sets, steering columns, steering oil pumps and steering hoses. Its customer base is comprised of leading Chinese auto manufacturers such as China FAW Group, Corp., Donfeng Auto Group Co., Ltd., Brilliance China Automotive Holdings Ltd., Beiqi Foton Motor Co., Ltd. and Chery Automobile Co., Ltd., etc.

Courtesy: China Automotive Systems Inc, China

Add a comment

Posted by Naresh Koshti on 9 July, 2008 5:18:45 PM IST #