STA, 3 February 2010 - Car parts maker Hidria announced on Monday that it had developed innovative aluminium steering wheel system casings for next generation hybrid and electric BMW cars, winning a EUR 30 million contract running until 2030.
The casing is a part of a system allowing automatic vertical steering wheel adjustments for individual drivers.
Cars with this system will be available on the European market in three years, Hidria said in a press release, adding that it won the deal in strong international competition.
This deal and contracts for the manufacturing of key components of electric motors totalling to more than EUR 300 million and signed late last year will allow Hidria to develop and strengthen its position in global markets, the company said.
The press release added the company intended to invest more than EUR 50 million in innovation in the coming years and more than EUR 100 million in high-tech production capabilities.
