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China Automotive Systems Won the 2012 Annual Chrysler China Regional Excellent Supplier Award


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WUHAN, China--Jan. 30, 2013: China Automotive Systems, Inc. ("CAAS" or the "Company") , a leading power steering components and systems supplier in China, today announced that it received the 2012 Chrysler China Regional Excellent Supplier award at the Chrysler Excellent Supplier Award Conference in Xiamen, China.

CAAS also received Chrysler's second place award for 2012 in the Global Metal Product Supplier category. Previously, China Automotive Systems won the 2011 Excellent Supplier Award from Chrysler Group LLC's China office for supplying its power steering gears for installation into the award-winning Jeep Wrangler in North America beginning in 2008. The Company expanded its relationship with Chrysler Group LLC later in 2011 through a new multi-year contract to supply its power steering products for installation into Chrysler's RAM pick-up truck models 2500 and 3500 in North America beginning in 2012.

Mr. Hanlin Chen, Chairman of China Automotive Systems, commented, "These excellent supplier awards reflect the many achievements CAAS has made in developing key components, proficiency in advanced production techniques, high quality control standards and precise delivery systems to meet the demands of the global steering markets. Our international success is demonstrated by our expanded relationship with Chrysler in North America and our joint venture in South America. These supplier awards are an acknowledgement of the value our global-quality products at very competitive prices provide to our customers. Increased international sales were a more significant contributor to 2012 sales and earnings than in the past and we expect sales into the global markets will be a more important growth driver in the future."