AAM Secures Contracts Valued at More Than $10 Billion for Next-Generation Full-Size Truck Axle Programs With Multiple Customers

DETROIT, Feb. 11, 2022 /PRNewswire/ — American Axle & Manufacturing (AAM), (NYSE: AXL) announced it has secured multiple next-generation full-size truck front and rear axle programs with global OEM customers (including a previously announced award in early 2021). These awards are expected to generate more than $10 billion of lifetime revenues from mid-decade to beyond 2030.

“We continue to secure AAM’s traditional core axle business by winning multiple next-generation light vehicle programs,” said David C. Dauch, AAM Chairman and Chief Executive Officer. “We look forward to providing our latest and most efficient driveline systems as a strategic supplier to these vehicle programs. These wins will continue to support and fund our pivot to electrification.”

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.

SOURCE American Axle & Manufacturing Holdings, Inc.