SmarTire’s Korean Partner Wins Product Development Contract

SmarTire Systems Inc., a developer of tire pressure and temperature monitoring systems, announces that its strategic partner Hyundai Autonet Company, Ltd (HACO) has been contracted by Hyundai Motor Corporation to develop commercial vehicle tire pressure monitoring systems (TPMS).
The development contract will study and validate tire pressure monitoring on commercial vehicles including trucks and buses in the Korean domestic marketplace. The initial tire pressure monitoring system will monitor up to 10 wheel positions and provide three warning levels to alert the driver of an under-inflated tire or a high temperature problem. The system will also indicate which tire is affected and provide status information.
"SmarTire will aggressively support this program providing the technology, components and data-logging capabilities," says Erwin Bartz, VP Business Development at SmarTire Systems Inc. "What is really exciting is that this system will comply with strict Korean and Japanese regulatory standards (ARIB)an industry first. This enables the system to work effectively with a minimal number of antennas."
HACO, originally founded in 1985, as Hyundai Automotive Electronics Division, is a subsidiary of the Hyundai Group, one of Korea’s largest conglomerate companies. HACO is a world-class automotive electronics manufacturer located in Kyoungki, Korea and is a major supplier of automotive electronics in Asia. Business areas include car audio systems, in-vehicle audio/visual entertainment systems, navigation systems, airbag ECU, powertrain electronics and tire pressure monitoring. Annual sales exceed $520 million and the Company employs more than 1200 workers. Major customers include Hyundai Motor Corporation, KIA Motor Corporation, Ssangyong Motor Company and other international automobile manufacturers.
SmarTire Systems Inc. develops and markets proprietary tire monitoring systems for the North American, European and Asian automotive and transportation industries. Incorporated in 1987, SmarTire is a public company with offices in North America and Europe. Additional information can be found at www.smartire.com.