Ballard Power Systems (BLD) subsidiary, Ballard Material Products (BMP), has been awarded an exclusive four-year contract extension for the supply of carbon friction material for automatic transmissions to an existing major automotive customer. The contract is valued at approximately US$40 million.
BMP, as a Tier 1 supplier to the automotive industry, already supplies friction material that is being used in more than five million vehicles annually. The material improves transmission operation, thereby ensuring smoother and more efficient performance.
“Enhanced transmission performance means improved fuel efficiency and, therefore, cost savings to the consumer,” said William Foulds, BMP’s President. “The carbon fiber products we are developing today help our customers meet the challenges presented by concerns around the price of oil, energy security, and the environmental footprint we leave.”
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