China Automotive Systems Unveils 2030 Growth Plan, $2.8B Sales Goal and Global Expansion

China Automotive Systems, Inc. (NASDAQ:CAAS) ("CAAS" or the "Company"), a leading power steering components and systems supplier in China, today announced that the "Hubei Henglong Enterprise Group 2026-2030 Strategic Plan" ("Group's 2026-2030 Strategic Plan") has been finalized and implemented from January 1, 2026. 

This strategic plan signifies the culmination of extensive research, thorough discussion, and meticulous preparation to systematically define the Group's strategic goals, development pathways, and action plans for the next five years. The 2026–2030 Strategic Plan effectively presses the "start button," propelling the Group into a new stage of high–quality development.

The "Group's Strategic Plan for 2026-2030" clearly outlines the Group's ambitious vision and development blueprint for 2030 with a focus on a core strategy of "technology leadership" and "deepening global presence". By striving to become a benchmark enterprise in global automotive intelligent steering systems by 2030, CAAS will sustain continuous innovation and open cooperation, combined with excellent operations. These qualities will empower Chinese manufacturing to gain greater influence in the global supply chain!

The plan clearly defines the Group's overall strategic objectives for 2026-2030 as "23144," aiming to achieve ambitious goals such as exceeding 20 billion yuan in total sales (including VAT ) by 2030, and demonstrating the Group's ambition and determination to succeed in the global markets.

To achieve this goal, the plan systematically outlines three main strategic pillars:

Deepening global operations: While maintaining a leading position in the domestic steering market, we will accelerate the construction of a "China + N" global manufacturing and supply chain network. Our local presence will be strengthened in key markets such as North America, South America, Europe, and Southeast Asia.

Strengthening technological leadership: R&D investment will be enhanced by focusing on cutting-edge technologies such as steer-by-wire and rear-wheel steering. Additionally, while expanding beyond the steering markets into other areas such as braking for example, we will strive to achieve key breakthroughs and define standards in the field of intelligent chassis.

Building exceptional systems: Centered on a "zero-defect" quality culture and platform-based, lean, and automated manufacturing systems, we will create an operational foundation that combines top-tier competitiveness and exceptional resilience, supporting the Group in achieving its strategic goal of total sales by 2030.

The Hubei Henglong Enterprise Group is a business consortium established by the major shareholders of CAAS. In addition to CAAS as its core member, the consortium includes affiliated companies and other business-related  entities.