RICHMOND, British Columbia (May 13, 2002)—SmarTire Systems Inc. and Visteon Corp. have agreed in principle to develop and market tire-monitoring solutions for vehicle manufacturers. The companies will offer tire-monitoring solutions to original equipment manufacturers for passenger car applications.
According to SmarTire, feedback from automakers shows the need to offer a “range of solutions integrating direct measurement technology with existing automotive modules and electronic systems.”
“For SmarTire, the agreement with Visteon represents a decisive critical step toward the integration of our technology into original equipment passenger car platforms,” said Robert Rudman, SmarTire president and CEO. “Responding to the demand for direct measurement tire monitoring technology, the two companies are working to solidify non-exclusive product development and distribution agreements.”
SmarTire develops and markets technically advanced tire monitoring systems for the automotive and transportation industries. Visteon, is a supplier of consumer-driven technologies to automotive manufacturers.