Benzinga | Jan 11, 2021 09:11AM EST

AAM and Inovance Automotive Form Technology Development Agreement Focused 'On Next-Generation Electric-Drive Technology'

DETROIT, Jan. 11, 2021 /PRNewswire/ -- American Axle & Manufacturing Holdings, Inc. (AAM) (NYSE:AXL), a leading global automotive supplier of driveline and metal forming technologies, and Suzhou Inovance Automotive Ltd. (Inovance Automotive), a leading provider of automotive power electronics and powertrain systems in China, today announced a technology development agreement that will accelerate the development and delivery of scalable, next-generation 3-in-1 electric drive systems, which integrates an inverter, electric motor and gearbox.