MTS Awarded $7 Million Contract For Tire Test Systems
MTS Systems Corporation (NASDAQ: MTSC) has secured a $7 million contract to supply advanced tire testing systems to a global tire manufacturer, aimed at optimizing designs for electric and fuel-efficient vehicles. This marks MTS' largest customer order in India and highlights the company's strategy to enhance its global market presence. The new systems will support the development of more energy-efficient products, facilitating compliance with emerging testing standards and enhancing tire performance for electric vehicles.
- Secured a $7 million contract for tire testing systems.
- Largest customer order in India, indicating market expansion.
- Supports development of energy-efficient products in compliance with new standards.
- None.
EDEN PRAIRIE, Minn., Oct. 27, 2020 /PRNewswire/ -- MTS Systems Corporation (NASDAQ: MTSC), a leading global supplier of advanced test systems, motion simulators and precision sensors, today announced that it will provide two state-of-the-art tire testing systems to a global tire manufacturer to help optimize designs for electric and fuel-efficient vehicles. The contract is valued at
"Environmental sustainability initiatives are driving rapid changes across all industries, and MTS is committed to supporting the development of more energy-efficient products and solutions," says Randy J. Martinez, MTS Interim President and CEO. "MTS is pleased to provide test systems that will help this customer meet new testing standards and tire fuel-efficiency rating requirements. As the automotive industry sharpens its focus on fuel-efficiency, MTS' innovative test systems and technologies will continue to help manufacturers accelerate electric vehicle development and improve the energy-efficiency of all vehicles."
Optimizing Tires for Electric & High-Performance Vehicles
Battery weight makes electric vehicles heavier than internal combustion engine vehicles, and this extra weight puts more loading forces on the tires. The MTS Flat-Trac CT Plus Tire Testing System will test a tire's performance up to its limits and can replicate the increased cornering loads and higher braking forces of electric vehicles. Unlike other tire test systems, the CT Plus can provide the forces needed to accurately evaluate tire performance for electric as well as conventional vehicles.
Improving Vehicle Fuel Efficiency
Due to an increased interest in developing fuel-efficient vehicles, the automotive industry is looking for ways to mitigate energy loss from tires. For both gas-powered and electric vehicles, the optimal tire design can significantly lower energy consumption and operating costs. Better tires will also reduce battery wear and increase electric vehicle range. The MTS Tire Rolling Resistance Measurement System will help this tire manufacturer minimize tire rolling resistance to improve vehicle fuel economy.
About MTS Systems Corporation
MTS Systems Corporation's testing and simulation hardware, software and service solutions help customers accelerate and improve their design, development and manufacturing processes and are used for determining the mechanical behavior of materials, products and structures. MTS' high-performance sensors provide measurements of vibration, pressure, position, force and sound in a variety of applications. MTS had 3,500 employees as of September 28, 2019 and revenue of
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SOURCE MTS Systems Corporation
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