logo
  

China Automotive Systems: Vehicle Steering System Shipments At Monthly Historical High In Nov.

China Automotive Systems, Inc. (CAAS) announced it shipped approximately 70,000 commercial vehicle steering systems to Chinese truck OEM producers and the North America aftermarket in the month of November. The company expects this to continue into the first quarter of 2021.

China Automotive Systems said a brand-new assembly line for intelligent RCB steering systems for commercial vehicles has been installed and is currently undergoing testing. Specifically designed for autonomous-driven commercial vehicles, CAAS' commercial vehicle iRCB systems feature electric motor assisted power steering to provide maximum assistance in parking, and in lane keeping at highway speeds.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The Federal Trade Commission or FTC, has sued Walmart for allowing its money transfer services to be used by fraudsters, who fleeced consumers out of hundreds of millions of dollars. The retail giant is alleged to have looked the other way to pocket millions in fees while scammers took advantage of its failure to properly secure the money transfer services offered at Walmart stores. Home improvement retailer Bed Bath & Beyond, Inc. (BBBY) reported on Wednesday a net loss for first quarter that sharply widened from last year, hurt by hefty transient costs related to inventory markdown reserves and port-related supply chain fees. Both adjusted loss per share and net sales missed analysts' expectations. Tesla Inc. laid off about 200 employees in its Autopilot unit as the luxury electric car maker closed down its office in San Mateo, California as part of cost cutting efforts, reports said. The San Mateo office, where employees worked on improving the driver assistance systems, marketed as Autopilot, had about 350 employees before the cut.
Follow RTT