China Automotive Systems Receives 2010 Annual Best Parts Supplier Award From Chery Auto
HUBEI, China--March 24, 2011: China Automotive Systems, Inc. ("CAAS" or the "Company"), a leading power steering components and systems supplier in China, today announced that its subsidiary, Wuhu HengLong Auto Steering System Co., Ltd., received the "2010 Annual Best Parts Supplier" award from Chery Automobile Co., Ltd.
Leveraging its stable and reliable supply chain management, superior product and service quality, the Company was selected among more than 700 contestants as one of only six suppliers honored with Chery's "2010 Annual Best Parts Supplier."
In light of Chery Auto's higher production and sales growth in the second half of 2010, CAAS expanded production according to the client's rising demand, while strengthening quality assurance. As part of the selection process, the Company ranked higher than most peer contestants in metrics such as low defective parts rate and service satisfaction.
Mr. Hanlin Chen, Chairman of China Automotive Systems, commented, "We are honored by this award from Chery Auto. With its independent intellectual property rights, core technologies and quality control, Chery Auto is one of the most productive domestic automobile enterprises with increasing overseas expansion. This award is a direct reflection of our advanced production techniques, rigorous quality control and comprehensive after-sales service. We look forward to expanding our collaborative relationship with Chery Auto in the future."
About China Automotive Systems, Inc.
Based in Hubei Province, the 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 nine Sino-foreign joint ventures. The Company offers a full range of steering system parts for passenger automobiles and commercial vehicles. The Company currently offers four separate series of power steering with an annual production capacity of over 2.5 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., Dongfeng Auto Group Co., Ltd., BYD Auto Company Limited, Beiqi Foton Motor Co., Ltd. and Chery Automobile Co., Ltd.