SmarTire, Visteon team up on tire pressure monitors for OEMs

RICHMOND, British Columbia (Dec. 11)—SmarTire Systems Inc. and Visteon Corp. have entered an agreement under which the two will jointly market products that comply with Transportation Recall Efficiency, Accountability and Documentation Act requirements, globally. While Visteon gains access to SmarTire's technology, the developer of tire pressure monitor systems will gain entry to the automotive original equipment market through the pact. The agreement grants Visteon manufacturing rights for select SmarTire products, as well as containing provisions that will allow the two companies to "jointly explore other opportunities such as the commercial vehicle market," they said in a release. Visteon and SmarTire have been quoting on contracts with several major car makers since May under a memorandum of understanding.