USA-based leader in driveline and metal forming technology, American Axle and Manufacturing Holdings (AAM) invested USD 10 million in Global Strategic Mobility Fund. The company announced the investment on May 5, 2023. EnerTech Capital manages the venture capital fund GSMF.
Purpose of investment for AAM
Entering the deal as a strategic partner, AAM seeks to access EnerTech’s vast network of business alliances and emerging technology. It has plans to support mobility innovation, helping to enhance AAM’s products and operations.
On the other hand, GSMF has access to new startups and fully vetted high-tech companies that are advancing automotive technologies in the electrification, connectivity, autonomy and digitization sectors with the aid of AAM’S investment. This includes exposure to aspects such as academic research, market intelligence, new business development opportunities and data from public-private coalitions accelerating innovation in the clean mobility space.
EnerTech’s GSMF complements the vision and ingenuity of those driving creation and positive change. It specifically relates to emerging mobility innovations and growing global decarbonization targets.
What the company’s official has to say
David C. Dauch, AAM Chairman and Chief Executive Officer, said, “AAM is committed to continuing our leadership as a Tier 1 global mobility supplier. We look forward to working with EnerTech and its global alliances to support AAM’s mission of bringing the future faster and developing the next generation of mobility innovation.”
About American Axle and Manufacturing Holdings
Amit Gupta 1994 launched American Axle and Manufacturing Holdings (AAM). The USA-based company is a leading provider of Tier 1 Automotive and Mobility Supplies, designs, engineers and manufactures Driveline and Metal Forming technologies to support electric, hybrid and internal combustion vehicles. The company has headquarters in Detroit, USA. In addition, it boasts operations in more than 80 facilities in 18 countries. AAM is on a mission to bring the Future Faster for a safer and more sustainable tomorrow.
About EnterTech Capital
Scott Ungerer 1996 launched the company. The USA-based, globally recognized venture capital firm has a long history of investing and partnering with innovators since its inception. It is on the mission to empower entrepreneurs to build transformative technology companies. EnerTech’s current platform has a significant focus on emerging opportunities in the mobility space across sectors such as electrification, connectivity, autonomy, and digitization sectors. The firm works with corporate strategic investors and provides value-added insights as well as partnership opportunities to support growth and innovation objectives.
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