AAM Awarded Next Generation Ram Heavy Duty Axle and Driveshaft Program

Rhea-AI Summary

American Axle & Manufacturing (AAM) has secured a significant next-generation axle and driveshaft program for Ram's heavy-duty pickup trucks. This long-term partnership, which extends through 2030, is expected to generate several billion dollars in sales for AAM. AAM aims to leverage its advanced driveline technologies to support Ram's vehicle program, reinforcing their commitment to innovation in automotive technologies. The company operates globally with a focus on manufacturing high-quality driveline and metal forming technologies.

Positive

• Secured next-generation axle and driveshaft program for Ram's heavy-duty trucks, expected sales exceeding several billion dollars.
• Partnership with Ram extends through 2030, ensuring long-term revenue stability.
• Commitment to advanced driveline technologies positions AAM favorably in the automotive supply industry.

Negative

• Potential risks due to uncertainties surrounding the COVID-19 pandemic as mentioned in forward-looking statements.

DETROIT, Feb. 12, 2021 /PRNewswire/ -- American Axle & Manufacturing (AAM) has secured the next generation axle and driveshaft program for Ram's heavy duty pick-up trucks.  As Ram's strategic driveline supplier through 2030, AAM expects current and future sales related to this program to exceed several billion dollars over the lifetime of this award.

"AAM is pleased to continue our long-term partnership with Ram as the supplier of axles and driveshafts for the 2500 and 3500 Heavy Duty pickup trucks. We look forward to providing our latest and most efficient driveline technologies as Ram's strategic supplier for the next-generation of this key vehicle program," said David C. Dauch, AAM's Chairman and Chief Executive Officer. "This vehicle program continues AAM's mission to support growth in advanced vehicle technologies."

About AAM
AAM (NYSE: AXL) delivers POWER that moves the world. 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. Headquartered in Detroit, AAM has approximately 20,000 associates operating at nearly 80 facilities in 17 countries to support our customers on global and regional platforms with a focus on quality, operational excellence and technology leadership. To learn more, visit aam.com.

Forward-Looking Statements

This release contains forward-looking statements and other information relating to matters that are not historical facts. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these statements. These risks and uncertainties include uncertainty around the duration and effects of the COVID-19 pandemic, and the factors detailed from time to time in the reports we file with the SEC, including those described under "Risk Factors" in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. These forward-looking statements speak only as of the date of this report. We expressly disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

For more information:
Investor Contact
David Lim
Head of Investor Relations
(313) 758-2006
david.lim@aam.com

Media Contact
Christopher M. Son
Vice President, Marketing & Communications
(313) 758-4814
chris.son@aam.com

Or visit the AAM website at www.aam.com.

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SOURCE American Axle & Manufacturing Holdings, Inc.

FAQ

What is the significance of AAM's contract with Ram for 2021?

AAM secured a multi-billion dollar contract to supply axles and driveshafts for Ram's heavy-duty trucks through 2030.

How much revenue is AAM expecting from the Ram contract?

AAM expects sales related to the Ram program to exceed several billion dollars over its lifetime.

What technologies will AAM provide to Ram under the new contract?

AAM will provide advanced driveline technologies as part of its partnership with Ram.

What is AAM's stock symbol?

AAM is publicly traded under the stock symbol 'AXL'.

What uncertainties did AAM mention in their press release regarding future performance?

AAM highlighted risks related to the ongoing effects of the COVID-19 pandemic in their forward-looking statements.