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Benzinga
Benzinga
Business
Shivani Kumaresan

American Axle & Manufacturing Invests $15M In Autotech Ventures

AXL AAM NYSE Silicon Valley
  • American Axle & Manufacturing Holdings Inc (NYSE:AXL) has invested $15 million in Autotech Ventures to access new opportunities that support its mission to develop powerful electric drivelines.
  • Autotech Ventures is an early-stage Silicon Valley venture capital firm focused on tech start-ups in the global ground transportation industry. 
  • With over $400 million under management, Autotech provides start-ups with capital, ground transportation market intelligence, and access to a transportation network.
  • "We look forward to working with Autotech and the new technology companies that will further advance AAM's work in bringing the future of mobility faster," said Chairman and CEO David C. Dauch.
  • Price Action: AXL shares are trading higher by 2.16% at $8.51 on the last check Wednesday.
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