IAT: Subsidiary Nominated as Designated Supplier by SAIC-GM-Wuling
Source: Author: Date:2021-02-10 Read:221
On the evening of February 22, IAT (stock code: 300825) reported that its holding subsidiary Sichuan IAT had received a "Letter of Nomination Intent" from SAIC-GM-Wuling, confirming Sichuan IAT's selection as the provider of DHT gearbox assembly. If the project is completed successfully, the overall cost is projected to be between RMB 500 and 600 million. After Sichuan IAT became the supplier of BaoNeng Auto's EDU + dual motor controller assembly in December 2020, this is another well-known OEM.
According to IAT, the receipt of the Letter of Nomination Intent from SAIC-GM-Wuling on DHT transmission, as well as the selection of Sichuan IAT New Energy as the designated part supplier for its relevant models, reflects the customer's high confidence in IAT's R&D and production capacity in the industry.
It is also beneficial to the company's future market penetration in the sector of new energy vehicle parts. It will help to increase the size and industry standing of the company's car part business.
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