SHANGHAI, Feb. 27, 2017 /PRNewswire/ -- Shanghai-based Advanced Leading Technology Group (ALT) announced today that Government of Singapore Investment Corp (GIC), a sovereign wealth fund established by the Government of Singapore, has invested 18% in the group.
ALT is a leading electric vehicle (EV) system product provider in China focused on Electrical Power Steering (EPS) and Adaptive Front-lighting System (AFS). ALT's core technology covers software design and hardware manufacturing, which allows it to continuously maintain and upgrade Advanced Driver Assistance Systems (ADAS) related system solutions for robust customer demand. Being one of the few truly system-level innovators in China, it has successfully penetrated top Chinese auto brands and provides EPS solutions to Baidu intelligent drive and Singulato EV ADAS system, among others. With this new investment from GIC, ALT plans to expand EPS capacity to meet current demand and increase shares in EPS and AFS markets, capitalizing on the ADAS trend of intelligent driving and EV demand in China.
Mr. Jack Chen, founder and Chairman of ALT, commented on the investment, "We are honored to have GIC become a strategic shareholder. We are confident that this investment will help us to capture rising demand of ADAS and EV in the China market."
Chairman Chen continued, "Looking ahead for ALT, we are committed to growing the AFS and EPS business. Our exceptional engineering capabilities enable our team to develop integrated solutions including Adaptive Driving Beam (ADB) and Over-the-AIR (OTA) software update and remote control. We'll continue to expand capacity to address the growing EPS and AFS market, increase market share and strengthen our services. We believe these efforts will position ALT as the leading EPS and AFS system provider in the China automotive market."
Quantum International Corp (QIC) acted as the exclusive financial advisor to the deal.
About ALT: Established in 2000, ALT is based in Shanghai, founded by industry experts with a collective 39 years of experience in auto electromechanical system design and integration. ALT designs and manufactures all software, firmware and key components including motors, sensors, electronic control units of EPS and AFS.
For more information, please visit http://www.altco.com.cn or contact Adam Huang at adam_huang@altco.com.cn, or Jason Ho at jasonho@qtumic.com.
