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Automotive Industry

SmarTire terminates agreement with Visteon

Automotive Industries, August, 2003

SmarTire Systems Inc. has terminated its agreement with Visteon Corp. and has elected to strengthen its strategic alliance with Asian partner Hyundai Autonet Company (HACO). HACO is a subsidiary of the Hyundai Auto Group, one of Korea's largest conglomerate companies. SmarTire will market its products and services directly to OEMs worldwide with the exception of the Korean market.

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SmarTire has previously entered into an agreement with HACO to jointly develop products for the Korean market. HACO will manufacture and market specific products for the Korean marketplace. As announced by SmarTire in July, HACO has been contracted by Hyundai Motor Corporation to develop commercial vehicle tire pressure monitoring systems.

Automotive Industry

SmarTire terminates agreement with Visteon

Automotive Industries, August, 2003

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