Investor Story

   

RSS FEEDS

News Releases
Calendar Events
SEC Filings

Published on May 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.

###

Media Contacts:

Christopher M. Son                                                   
Vice President, Marketing & Communications          
(313) 758-4814                                                        
chris.son@aam.com                                                 

For more information:

INVESTOR RELATIONS

David Lim

Head of Investor Relations

+1 (313) 758 2006

InvestorRelations@aam.com

MEDIA

Christopher Son

Vice President, Marketing & Corporate Communications

+1 (313) 758-4814

Contact
AMERICAN AXLE & MANUFACTURING

One Dauch Drive
Detroit, MI 48211-1198

X
Forward-Looking Statement

On this website and elsewhere in attached materials, we make statements concerning our expectations, beliefs, plans, objectives, goals, strategies, and future events or performance.  Such statements are “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 and relate to trends and events that may affect our future financial position and operating results.  The terms such as “will,” “may,” “could,” “would,” “plan,” “believe,” “expect,” “anticipate,” “intend,” “project,” "target," and similar words or expressions, as well as statements in future tense, are intended to identify forward-looking statements.

Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time those statements are made and/or management’s good faith belief as of that time with respect to future events and are subject to risks and may differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause such differences include, but are not limited to:

  • 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;
  • our ability to consummate and integrate acquisitions and joint ventures;
  • 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.