Automotive technology supplier Bosch has signed a contract for NIRA's tire pressure indicator (TPI) called indirect tire pressure monitoring system (iTPMS) to be equipped on Bosch's slip control systems.
With the deal, the iTPMS provider NIRA is expected to become a supplier of parts for Bosch and Tier 2 company in the automotive industry.
NIRA CMO Jorg Sturmhoebel said, "This contract opens up business opportunities and markets worldwide for us, which we as a small company among the giants of the automotive industry could never achieve alone."
Following the grant, the contract is claimed to have an effect on the growth of NIRA's customer portfolio and is expected to expand it in terms of test drivers, engineers and facilities.
The increasing safety and environmental awareness in markets is expected to require the standard fitment of both slip control systems and TPMS, and increase their fitment rate from the current 5% to over 25% by 2018.
