Malaga-based Automotive Technology Group has expanded its presence in China with the signing of another deal with one of the country's largest car manufacturers.
Malaga-based Automotive Technology Group has expanded its presence in China with the signing of another deal with one of the country's largest car manufacturers.
Under the deal, both companies will investigate the application of ATG's low emissions, high fuel efficiency Sprintex Supercharger products as a component in the Chinese manufacturer's vehicles.
The manufacturer, which cannot be named due to confidentiality clauses, produces over 400,000 vehicles a year and has over 18,000 employees.
An ATG spokesperson said the manufacturer plans to start marketing its cars in Australia soon.
Earlier this month, ATG signed a deal with Huachuang Zhenxin Automobile Technology Group Co for the marketing and sale of the Sprintex Supercharger.
Under that deal, Huachuang can sell the product to owners who get their vehicles serviced.
Last month ATG entered a deal with a leading United Arab Emirates motor vehicle distribution group to evaluate the patented Sprintex Supercharger, with a view to secure distribution rights in the region.
Today's announcement is below:
Leading Australian clean automotive technology company Automotive Technology Group (ATG) (ASX: ATJ) is pleased to announce that it has signed an agreement with one of China's major automotive vehicle manufacturers for the development and application of ATG's patented Sprintex Supercharger.
Under the terms of the Agreement, both parties will investigate the application of ATG's patented low emissions, high fuel efficiency Sprintex Supercharger products as a component in the Chinese manufacturer's vehicles, and also in other automotive applications.
The Agreement also covers the issues of Intellectual Property, Confidentiality and Non Circumvention. The Chinese automobile manufacturer is an original equipment manufacturer (OEM) of motor vehicles in China, which manufacturers over 400,000 vehicles a year, across all classes of vehicle, and has over 18,000 employees. Its vehicles are for both the Chinese domestic market and global export markets.
ATG Executive Director - Corporate Steven Apedaile said the Company was delighted to be able to confirm the agreement as another significant step forward in the growing appetite for ATG's lower emissions, high fuel efficiency Sprintex Supercharger in major international automotive markets.
"The Chinese company is one of the major manufacturers of motor vehicles in China, and their interest in developing applications to use our product represents a potentially huge market opportunity for ATG," Mr Apedaile said.
ATG has recently commissioned a full SAE industry compliant Supercharger testing facility at its stateof- the-art Research & Development facility in Perth, Western Australia, which along with its recent ISO 9001/2008 quality assurance accreditation certification has allowed the company to complete the development of its green patented Sprintex Supercharger and Industrial compressor technology to the highest global industry standards.
Mr Apedaile said increasing numbers of motor vehicle and motorcycle manufacturers were turning to Supercharging to help achieve tougher emissions and fuel efficiency targets being enforced by governments globally, and that the interest in ATG's proven and tested technology continued to grow globally.
"The green technology Sprintex Supercharger achieves these two goals while ensuring the performance demanded by today's drivers can be achieved despite the move to smaller capacity engines, "Mr Apedaile said.
