Yesterday, the United States Axle Manufacturing International Holdings Limited (AAM) announced that its First Automobile Transmission America Manufacturing Technology Ltd. located in Changshu city officially opened, and signed a new contract with Chery Automobile Company Ltd., to make RDM for Chery crossover vehicle models which are scheduled to launch in 2009.

Once these components are made in China, the cost of production would be at least 30% cheaper than made in the North American market.

Richard E.Dauch, Chairman and CEO and one of the founders of AAM said: The Company will invest 100 million dollars in China, and Chery Automobile Company is its new Asian customers. Earlier, the company's businesses are mainly from General Motors.

The Company revealed that by the end of this year, the Company will put another gear production line into operation, and the Chery crossover vehicle will come to the European and American markets in March 2009 once it's been completed. More than 60% of its products are made in China at present, compared to the cost in North America they are 30% lower.

It is said that AAM in the field of light trucks, SUV and the drive, transmission system, related accessories, Modular products, chassis systems and development, design and certification of metal forming products manufacturing are in a leading position in the world. In addition to setting up factories in the United States, the AAM technology business offices and production plants are flourishing throughout Brazil, China, Germany, India, Japan, Luxembourg, Mexico, Poland, South Korea and the United Kingdom.

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