LAKE FOREST, Ill., Dec. 11, 2019 /PRNewswire/ -- DRiV™,
a Tenneco Inc. (NYSE: TEN) business and leading global aftermarket
and OE ride performance supplier, and several research partners
have received a European Union Marie Sklodowska-Curie Actions
mobility grant for development and evaluation of advanced
wheel-corner concepts for autonomous vehicles. DRiV will
collaborate with Arrival ltd, a London based technology company designing and
manufacturing Generation 2.0 electric vehicles, and several leading
universities and industrial organizations in Project OWHEEL, which
will produce recommendations for improving ride dynamics and
passenger comfort through innovative wheel-corner designs.
Established in 1996, Marie Skłodowska-Curie Actions (MSCA) is a
fellowship program that awards grants to promote interdisciplinary
research and international collaborations. The EU Research
Executive Agency has awarded more than €6 billion in MSCA grants
for projects dedicated to excellence and worldwide mobility in
research.
Partners in Project OWHEEL will develop and benchmark the
performance of four next-generation wheel-corner concepts – passive
corner with stationary wheel positioning, passive composite corner,
active corner with conventional ride dynamics control, and active
corner with integrated wheel positioning control – intended to
enhance passenger comfort in autonomous operation. Project partners
will collaborate in development design, extensive simulation
studies and experimental validation of each proposed concept.
"OWHEEL's main goal is to provide fact-based recommendations for
future vehicle suspension architecture," said Brad Norton, executive vice president and
president, Ride Performance, DRiV. "DRiV engineers have
pioneered the exploration of advanced ride dynamics control for
emerging mobility platforms, including electric and autonomous
vehicles. Several of these solutions are already commercially
available within our Monroe® Intelligent Suspension
portfolio."
In addition to DRiV and Arrival Ltd., OWHEEL research partners
are Delft University of Technology (Netherlands); University of Modena
Dipartimento di Ingegneria "Enzo
Ferrari", and University of Naples Federico II (Italy); Ilmenau University of Technology
(Germany); University of
Surrey (United Kingdom); Vilnius Gediminas Technical
University (Lithuania); National
University Corporation, the University of
Tokyo (Japan); and
University of Pretoria
(South Africa).
About DRiV™ - the future Aftermarket and Ride Performance
Company
Following the expected separation of Tenneco to form two-
independent companies, an Aftermarket and Ride Performance company
(DRiV™) as well as a new Powertrain Technology company, DRiV will
be one of the largest global multi-line, multi-brand aftermarket
companies, and one of the largest global OE ride performance and
braking companies. DRiV's principal product brands will feature
Monroe®, Ӧhlins®, Walker®,
Clevite® Elastomers, MOOG®,
Fel-Pro®, Wagner®, Ferodo®,
Champion® and others. DRiV would have 2018 pro-forma
revenues of $6.4 billion, with 54% of
those revenues from aftermarket and 46% from original equipment
customers.
Safe Harbor
This release contains forward-looking statements. These
forward-looking statements include, among others, statements
relating to our plans to separate into two independent companies.
Forward-looking statements are subject to a number of risks and
uncertainties that could cause actual results to materially differ
from those described in the forward-looking statements, including
the possibility that Tenneco may not complete the separation of the
Aftermarket & Ride Performance business from the Powertrain
Technology business (or achieve some or all of the anticipated
benefits of such a separation); the possibility that the
acquisition of Federal-Mogul or the separation may have an adverse
impact on existing arrangements with Tenneco, including those
related to transition, manufacturing and supply services and tax
matters; the ability to retain and hire key personnel and maintain
relationships with customers, suppliers or other business partners;
the risk that the benefits of the acquisition of Federal-Mogul or
the separation, including synergies, may not be fully realized or
may take longer to realize than expected; the risk that the
acquisition of Federal-Mogul or the separation may not advance
Tenneco's business strategy; the risk that Tenneco may experience
difficulty integrating all employees or operations; the potential
diversion of Tenneco management's attention resulting from the
separation; as well as the risk factors and cautionary statements
included in Tenneco's periodic and current reports (Forms 10-K,
10-Q and 8-K) filed from time to time with the SEC. Given these
risks and uncertainties, investors should not place undue reliance
on forward-looking statements as a prediction of actual results.
Unless otherwise indicated, the forward-looking statements in this
release are made as of the date of this communication, and, except
as required by law, Tenneco does not undertake any obligation, and
disclaims any obligation, to publicly disclose revisions or updates
to any forward-looking statements. Additional information regarding
these risk factors and uncertainties is detailed from time to time
in the company's SEC filings, including but not limited to its
annual report on Form 10-K for the year ended December 31, 2018.
Media
contacts:
|
|
|
Bill
Dawson
|
Simonetta
Esposito
|
Media Relations –
North America
|
Media Relations –
Europe
|
847
482-5807
|
32 (0) 2 706
9232
|
bdawson@driv.com
|
sesposito@driv.com
|
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SOURCE DRiV