China Automotive Systems, Inc. (Nasdaq: CAAS), a leading power steering components and systems supplier in China, has established its first office, HengLong USA Corporation, in North America. The US based operation will be based in Troy, Michigan and will focus on market development, R&D and after sales service in North America.
"We are very excited about the opening of our first office in the overseas market. We hope to leverage the resources available in the US to upgrade our product quality, enhance new product R&D and extend our leadership in the Chinese domestic market. Internationally, our US presence will also enable us to shorten the communication gap between our China operation and US OEMs. Ultimately, we see tremendous technology collaboration and growth opportunities between our new US office and our existing Chinese operations," said Mr. Hanlin Chen, Chairman and Chief Executive Officer of China Automotive Systems.