AAM Invests in Autotech Ventures, Will Leverage Access to New Mobility Opportunities
Summary
DETROIT, Feb. 9, 2022 /PRNewswire/ -- American Axle & Manufacturing is committing $15 million to Autotech Ventures in a partnership that will provide access to new opportunities that complement AAMs mission to develop and produce the industrys most efficient and powerful electric drivelines. With over $400 million under management, Autotech aims solve the worlds most challenging transport problems while positively impacting society and the environment. AAMs commitment to Autotech provides exposure to new startup and fully-vetted high-tech companies who are advancing automotive technologies in the electrification, connectivity, autonomy, sharing and digitization sectors. AAM is seeking to leverage Autotechs portfolio and expertise to identify new opportunities with start-up companies to advance innovation in product, process and systems technologies supporting electrification and other new mobility initiatives. As a leading global tier 1 automotive supplier, AAM designs, engineers and manufactures driveline and metal forming technologies that are making the next generation of vehicles smarter, lighter, safer and more efficient.