American Axle & Manufacturing Holdings, Inc. (NYSE: AXL), a leader in driveline and metal forming technology, has announced a $10 million investment in the Global Strategic Mobility Fund (GSMF), a venture capital fund managed by EnerTech Capital.
As a strategic partner, AAM will benefit from EnerTech’s network of business alliances and access to cutting-edge technology, all of which support mobility innovation and can potentially enhance AAM’s products and operations.
AAM’s investment in GSMF grants the company access to new startups and high-tech companies specializing in the advancement of automotive technologies in electrification, connectivity, autonomy, and digitization. This also includes exposure to academic research, market intelligence, new business development opportunities, and data from public-private coalitions that accelerate innovation in the clean mobility sector.
EnerTech Capital, founded in 1996, is a venture capital firm that invests in and partners with entrepreneurs to build transformative technology companies. Its current platform focuses on emerging opportunities in the mobility space, spanning electrification, connectivity, autonomy, and digitization sectors.
Headquartered in Detroit and led by Chairman and Chief Executive Officer David C. Dauch, AAM designs, engineers, and manufactures driveline and metal forming technologies to support electric, hybrid, and internal combustion vehicles. The company operates over 80 facilities in 18 countries worldwide.