12th Feb 2008 07:01
TT electronics PLC12 February 2008 TTG.L Speed Sensor Contract for Tata Nano Minicar TT electronics plc, a world leader in sensor and electronic componentstechnology, today announces that it has secured a contract to supply speedsensors for the Nano, the radically new minicar unveiled in January 2008 by TataMotors Ltd, one of India's leading car manufacturers. The sensors will be manufactured by Padmini TT electronics Private Ltd ("PadminiTT"), the joint venture formed in 2006 between TT electronics and Padmini VNAPrivate Ltd ("Padmini VNA"), in Gurgaon, near Delhi, India. This is one ofseveral contracts with local vehicle manufacturers and automotive componentsuppliers recently awarded to this new enterprise. "We are delighted with this news which further endorses our strategy ofinvestment in India's thriving automotive industry," said Neil Rodgers, CEO ofTT electronics. "Although relatively modest in value terms, we regard thiscontract as a major breakthrough with Tata Motors and are very pleased to bepart of the revolutionary 'one lakh car' project, which is expected to bringaffordable four-wheel transportation to millions of people across the globe." The Nano, due to be launched later this year, is a small saloon vehicle withrear-wheel drive powered by an all-aluminium, two cylinder, multi-point fuelinjection petrol engine and has been designed specifically to reduce weight andto keep costs to a minimum. This also helps maximise performance whilstdelivering greater fuel efficiency; as a result, the car has a low carbonfootprint. Padmini TT operates on an eight acre site in Gurgaon. Products manufacturedinclude engine speed, position, temperature sensors and related modules. Prototypes of the Tata Nano speed sensor have already been supplied; Padmini TTis now preparing to increase output, in preparation for high-volume vehicleproduction scheduled for September 2008. Enquiries: TT electronics plc Tel: 01932 841 310Neil Rodgers, Chief Executive Biddicks Tel: 020 7448 1000Zoe Biddick This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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