China Automotive Systems' Fully Redundant AP04 EPS Platform Meets ASPICE 4.0 CL2 in Joint Assessment by European OEM and UL

China Automotive Systems, Inc. (NASDAQ: CAAS) ("CAAS" or the "Company"), a leading power steering components and systems supplier in China, today announced that its wholly owned subsidiary, Hubei Henglong Automotive System Group ("Henglong"), has achieved ASPICE 4.0 Capability Level 2 in an assessment jointly conducted by a European automaker and an international third-party agency UL. The project's end-to-end R&D capabilities met the ASPICE 4.0 CL2 standards, marking a significant milestone in the management of automotive software and hardware R&D.The EPS program developed on the AP04 platform was included in the same assessment and also achieved ASPICE CL2, reinforcing the program's readiness for its planned mass production for the European markets by the end of 2026. The 19 core process areas cover systems engineering, software engineering, hardware engineering, and project management, along with supporting processes.ASPICE CL2 serves as a key benchmark for measuring an enterprise's R&D process control capabilities in the automotive electronics sector, with leading European automakers enforcing particularly rigorous entry standards regarding supply chain R&D processes, quality systems, and process control. By maintaining superior process capabilities, high-quality automotive platform solutions are provided to global customers.In addition, Henglong's products met all R&D testing criteria set by a leading China-based automaker, successfully securing the development rights for the client's R-EPS platform-based vehicle models. As these models represent the client's mainstream offerings, this achievement exhibits our R&D technical capabilities. R-EPS platform refers to a Rack-type Electric Power Steering system as an advanced chassis platform that replaces traditional hydraulic steering with an integrated electric motor and mechanical reduction system (such as a ball screw or belt) directly attached to the steering rack.Mr. Qizhou Wu, Chief Executive Officer of CAAS, commented, "Achieving ASPICE 4.0 CL2, validated by a leading European OEM and UL, demonstrates that our engineering processes are disciplined, repeatable, and globally competitive. These capabilities strengthen our readiness for the scheduled mass production of our EPS products for European markets by the end of 2026 and provide a scalable foundation for future platform programs with customers worldwide."

China Automotive Systems' Fully Redundant AP04 EPS Platform Meets ASPICE 4.0 CL2 in Joint Assessment by European OEM and UL

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