Technology That Drives The Industry
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AXL:
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Price:
$7.60
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0.14 (-1.81%)
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Day High:
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AXL:
Price:
$7.60
Day High:
$7.87
0.14 (-1.81%)
Day Low:
$7.53
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Investor News
5/30/2023
AAM Sponsors EcoCAR EV Challenge
DETROIT – May 30, 2023 - - American Axle & Manufacturing Holdings, Inc. (AAM), (NYSE: AXL) is helping grow young engineering talent and improve electric vehicle efficiency through a Visionary Sponsorship of the EcoCAR EV Challenge. In the four-year student competition, university teams compete by engineering next generation battery electric vehicles (BEVs) and use automation and vehicle-to-everything (V2X) to create new vehicle features and technologies that decarbonize the automotive industry.
“AAM has a long history of supporting STEM education at all levels and helping grow the next generation of automotive talent,” said David C. Dauch, AAM Chairman and Chief Executive Officer. “As a Visionary Sponsor of the EcoCAR EV Challenge, we are helping students learn about sustainable mobility and fuel their engineering passion.”
AAM’s four-year sponsorship is comprised of financial contributions as well as “In-Kind Credits” such as software and engineering support. Most significantly, AAM is supplying five college teams with its premier 3-in-1 configurable platform electric drive unit. This next-generation EDU combines a high-speed motor, compact gearbox and integrated inverter, offering a 40-percent reduction in packaging space. AAM’s EDU provides best-in-class improvements in mass and volumetric efficiency, power density and reduced power loss. It also has the potential to improve range – further helping EVs create a carbon footprint advantage.
Through its sponsorship, AAM is developing relationships with premier engineering talent – a total of more than 2,600 diverse students from across North America are participating in the EcoCAR EV Challenge. AAM plans to host a winter workshop at its Detroit Campus in early 2024 where students can see firsthand the innovative products and processes being developed by AAM engineers.
To learn more about the EcoCAR EV Challenge, visit its website.
About AAM: As a leading global Tier 1 Automotive and Mobility Supplier, AAM (NYSE: AXL) designs, engineers and manufactures Driveline and Metal Forming technologies to support electric, hybrid and internal combustion vehicles. Headquartered in Detroit with more than 80 facilities in 18 countries, AAM is Bringing the Future Faster for a safer and more sustainable tomorrow. To learn more, visit aam.com.
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Media Contacts:
Christopher M. Son Charlotte Fisher,
Vice President, Marketing & Communications Director, Communications & Community Relations
(313) 758-4814 (313) 758-2411
chris.son@aam.com charlotte.fisher@aam.com
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5/5/2023
AAM Invests in EnerTech Global Strategic Mobility Fund
DETROIT, May 5, 2023 -- American Axle & Manufacturing Holdings, Inc. (AAM), (NYSE: AXL), a leader in driveline and metal forming technology, today announced a $10 million investment in the Global Strategic Mobility Fund (GSMF), a venture capital fund managed by EnerTech Capital. As a strategic partner, AAM gains access to EnerTech’s vast network of business alliances and emerging technology, all supporting mobility innovation that can help enhance AAM’s products and operations.
“AAM is committed to continuing our leadership as a Tier 1 global mobility supplier,” said David C. Dauch, AAM Chairman and Chief Executive Officer. “We look forward to working with EnerTech and its global alliances to support AAM’s mission of bringing the future faster and developing the next generation of mobility innovation.”
EnerTech, founded in 1996, has a long history of working with corporate strategic investors like AAM and is dedicated to providing companies across the mobility landscape with investment capital expertise, and strategic support. EnerTech’s GSMF supports the vision and ingenuity of those driving creation and positive change, specifically as it relates to emerging mobility innovations and growing global decarbonization targets.
AAM’s investment in GSMF provides the company with access to new startup and fully vetted high-tech companies that are advancing automotive technologies in the electrification, connectivity, autonomy and digitization sectors. This includes exposure to academic research, market intelligence, new business development opportunities and data from public-private coalitions accelerating innovation in the clean mobility space.
About AAM: As a leading global Tier 1 Automotive and Mobility Supplier, AAM (NYSE: AXL) designs, engineers and manufactures Driveline and Metal Forming technologies to support electric, hybrid and internal combustion vehicles. Headquartered in Detroit with over 80 facilities in 18 countries, AAM is Bringing the Future Faster for a safer and more sustainable tomorrow. To learn more, visit aam.com.
About EnerTech Capital: EnerTech Capital is a globally recognized venture capital firm that has been investing and partnering with innovators since 1996, empowering entrepreneurs to build transformative technology companies. EnerTech’s current platform has a significant focus on emerging opportunities in the mobility space across electrification, connectivity, autonomy, and digitization sectors. The firm has a long history of working with corporate strategic investors and providing value added insights and partnership opportunities to support growth and innovation objectives. To learn more, visit EnerTechCapital.com.
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AAM Media Contacts Christopher M. Son, AAM
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AAM Investor Contacts David H. Lim
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- Experienced and proven management team
- Strong core business focused on high demand products, complimented by global profitable growth opportunities
- Flexible and variable cost structure with a proven track record of effectively adjusting our business to current market demand
- Superior profit margin and strong free cash flow yield driven by AAM's operating system and the benefit of vertical integration
- Highly innovative and scalable electrification propulsion technologies designed to accelerate growth and serve multiple regions, customers and vehicle segments
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- reduced purchases of our products by General Motors Company (GM), FCA US LLC (FCA), or other customers;
- reduced demand for our customers' products (particularly light trucks and sport utility vehicles (SUVs) produced by GM and FCA);
- our ability to develop and produce new products that reflect market demand;
- lower-than-anticipated market acceptance of new or existing products;
- our ability to respond to changes in technology, increased competition or pricing pressures;
- our ability to attract new customers and programs for new products;
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- risks inherent in our international operations (including adverse changes in trade agreements, tariffs, immigration policies, political stability, taxes and other law changes, potential disruptions of production and supply, and currency rate fluctuations, including those resulting from the recent United States presidential election and the United Kingdom's vote to exit the European Union);
- negative or unexpected tax consequences;
- liabilities arising from warranty claims, product recall or field actions, product liability and legal proceedings to which we are or may become a party, or the impact of product recall or field actions on our customers;
- our ability to achieve the level of cost reductions required to sustain global cost competitiveness;
- supply shortages or price increases in raw materials, utilities or other operating supplies for us or our customers as a result of natural disasters or otherwise;
- our ability or our customers' and suppliers' ability to successfully launch new product programs on a timely basis;
- our ability to realize the expected revenues from our new and incremental business backlog;
- risks related to a failure of our information technology systems and networks, and risks associated with current and emerging technology threats and damage from computer viruses, unauthorized access, cyber attack and other similar disruptions;
- global economic conditions;
- our ability to maintain satisfactory labor relations and avoid work stoppages;
- our suppliers', our customers' and their suppliers' ability to maintain satisfactory labor relations and avoid work stoppages;
- price volatility in, or reduced availability of, fuel;
- our ability to protect our intellectual property and successfully defend against assertions made against us;
- our ability to attract and retain key associates;
- availability of financing for working capital, capital expenditures, research and development (R&D) or other general corporate purposes including acquisitions, as well as our ability to comply with financial covenants;
- our customers' and suppliers' availability of financing for working capital, capital expenditures, R&D or other general corporate purposes;
- changes in liabilities arising from pension and other postretirement benefit obligations;
- risks of noncompliance with environmental laws and regulations or risks of environmental issues that could result in unforeseen costs at our facilities;
- adverse changes in laws, government regulations or market conditions affecting our products or our customers' products (such as the Corporate Average Fuel Economy (CAFE) regulations);
- our ability or our customers' and suppliers' ability to comply with the Dodd-Frank Act and other regulatory requirements and the potential costs of such compliance; and
- other unanticipated events and conditions that may hinder our ability to compete.
It is not possible to foresee or identify all such factors and we make no commitment to update any forward-looking statement or to disclose any facts, events or circumstances after the date hereof that may affect the accuracy of any forward-looking statement.