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Stock impact report

China Automotive Systems Nominated as Best Supplier by Fiat Chrysler Automobile

China Automotive Systems, Inc. (CAAS) 
Last china automotive systems, inc. earnings: 11/12 06:00 am Check Earnings Report
US:NASDAQ Investor Relations: caasauto.com
Company Research Source: PR Newswire
WUHAN, China, Nov. 21, 2019 /PRNewswire/ -- China Automotive Systems, Inc. (Nasdaq: CAAS) ("CAAS" or the "Company"), a leading power steering components and systems supplier in China, today announced its Henglong Brazil subsidiary has been nominated as a one of three CHASSIS finalist for South America's 2018 Best Supplier by Fiat Chrysler Automobiles N.V. (FCA).CAAS started its operations in Brazil in 2012 through a joint venture with a local company. Over the years, CAAS has won contracts and grown its shipments to the region's largest OEM producer, FCA South America. In 2019, the sale of J436 series products through semi-knocked-down (SKD) kits is approaching 10,000 units per month. A new product under development to supply FCA's JEEP models will begin mass production starting in October 2020 with expected annual demand of 400,000 units, considering expected new demand plus the current volume.In appreciation of CAAS' commitment and performance in the 2018 calendar year, FCA also nom Show less Read more
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