American Axle and Manufacturing Inc.
) has won a contract from Qoros Auto Co. to deliver advanced
hybrid and electric driveline system featuring e-AAM technology.
Investment in the driveline system enabled the company to develop
an innovative patent-protected product portfolio; thus allowing
it to command a dominant position in the segment.
AMER AXLE & MFG (AXL): Free Stock Analysis
GENERAL MOTORS (GM): Free Stock Analysis
MAGNA INTL CL A (MGA): Free Stock Analysis
VISTEON CORP (VC): Free Stock Analysis Report
To read this article on Zacks.com click here.
The advanced e-AAM technology will provide a cost-efficient
solution with dominant power density, a high degree of modularity
and a full scope of controls and software. Customers will thus be
benefited due to better fuel efficiency, lower CO2 emissions and
improved safety, ride and handling performances.
The e-AAM technology will be featured in the future model year of
Qoros vehicle, which will be manufactured in China. The other
features in the e-AAM hybrid and electric driveline systems are
electric drive unit, power box unit with an electric drive
control module and a proprietary control strategy and software,
which is designed for traction and hybrid controls functionality.
Headquartered in Shanghai, China, Qoros is an automotive
manufacturing company. Qoros is a joint venture between Chery
Automobile Co. and Israel Corporation.
American Axle is a leading supplier of driveline systems, modules
and components for the light vehicle market. The company makes
axles, driveshaft and chassis components for light trucks, sport
utility vehicles and passenger cars.
American Axle is expected to grow on the back of its numerous
product launches, which feature advanced driveline technology,
and customer diversification. It has a Zacks Rank #2 (Buy).
American Axle reported earnings of $18.6 million or 23 cents per
share before debt refinancing and redemption costs in the first
quarter of the year, down 62.3% from 61 cents per share in the
comparable quarter of 2012 (excluding special items).
Nevertheless, earnings surpassed the Zacks Consensus Estimate of
Revenues of $755.6 million in the quarter were slightly higher
compared with $751.5 million in the first quarter of 2012, but
missed the Zacks Consensus Estimate of $757.0 million. The
company's revenues reflect the adverse impact related to the
labor strike at
) Rayong plant in Thailand.
Some stocks that are performing well in the industry where
American Axle operates include
Magna International Inc.
). They carry a Zacks Rank #1 (Strong Buy).