SHANGHAI, China, July 05, 2018 (GLOBE NEWSWIRE) -- WABCO Holdings Inc. (NYSE: WBC ) ( www.wabco-auto.com ), a leading global supplier of technologies and services that improve the safety, efficiency and connectivity of commercial vehicles, today announced its largest ever contract in South Korea. Under the long-term agreement with Hyundai Motor Company, South Korea’s leading manufacturer of commercial vehicles, WABCO will supply its breakthrough MAXX™ single-piston air disc brake technology for series production on Hyundai’s new medium-duty trucks starting in August 2019.
With over five million systems sold, WABCO is the global market leader for single-piston air disc brakes (ADB). WABCO’s pioneering MAXX represents the lightest and highest performing single-piston ADB range for commercial vehicles and offers a number of differentiating benefits for original equipment manufacturers. Superbly engineered and compactly designed, MAXX offers a potential vehicle weight reduction of 100 kilograms with optimized wheel ends when compared to conventional drum brakes, which helps improve fuel efficiency and enables increased transport payloads. WABCO’s MAXX ADB also provide enhanced safety and efficiency with shorter stopping distances and easier maintenance over conventional drum brakes. With up to 25% fewer parts compared to other ADB brands, WABCO’s MAXX ADB offer superior reliability, faster serviceability and expanded service intervals.
Hyundai Motors will now become the first manufacturer to adopt ADB technology on all axles as standard on medium-duty trucks in the South Korean market. Significantly reducing brake noise, Hyundai Motor's new range of medium-duty trucks will be equipped with WABCO’s MAXX19 ADB featuring a specially customized new brake pad solution.
“Further enhancing the safety, efficiency and market competitiveness of Hyundai Motor’s new medium-duty trucks, I am pleased that we are leading the way in the South Korean market by adopting WABCO’s high-performance air-disc brakes as a standard feature," said Young Duk Tak, Hyundai Motor Company Executive Vice President. “This agreement further extends our long-standing relationship with WABCO. WABCO's passionate, innovative support and braking systems leadership delivers a distinct technology advantage, enabling us to further differentiate and strengthen our position in the market."
“Representing our largest ever contract in South Korea, this ground-breaking air disk brake agreement builds on the success of over two decades of working in close partnership with Hyundai Motor Company," said Sujie Yu, WABCO President, APAC and Business Leader, China. “Building on WABCO‘s strategy of technology leadership, globalization and excellence in execution, we are successfully leveraging WABCO‘s localized engineering capability, market intimacy and cost-competitive supply chain across the region to deliver affordable technologies, customized solutions and differentiating value for local original equipment manufacturers."
“We are honored that Hyundai Motor Company continues to place its faith in WABCO with this further expansion to the range of advanced technologies they source from WABCO," added Hyung Keun Ji, WABCO Korea Business Leader. “As the first Korean commercial vehicle manufacturer to adopt single-piston air disk brake technology as standard on their new medium-duty range of trucks, we are delighted to support Hyundai Motors to bring solutions that further advance their vehicle safety and efficiency."
About WABCO WABCO (NYSE: WBC ) is a leading global supplier of technologies and services that improve the safety, efficiency and connectivity of commercial vehicles. Originating from the Westinghouse Air Brake Company founded nearly 150 years ago, WABCO continues to pioneer breakthrough innovations to enable autonomous driving in the commercial vehicle industry. Today, leading truck, bus and trailer brands worldwide rely on WABCO’s differentiating technologies, including advanced driver assistance, braking, steering and stability control systems. Powered by its vision for accident-free driving and greener transportation solutions, WABCO is also at the forefront of advanced fleet management systems that contribute to commercial fleet efficiency. In 2017, WABCO reported sales of $3.3 billion and has nearly 15,000 employees in 40 countries. For more information, visit www.wabco-auto.com and, for WABCO’s 2017 Annual Report, visit ar.wabco-auto.com .
WABCO China media contact Ling He, +86 2133 3821 65, ling.he@wabco-auto.com
WABCO global media contact Nina Friedmann, +49 69 719 168 171, wabco@klenkhoursch.de
WABCO investors and analysts contact Sean Deason, +1 248 270 9287, investorrelations@wabco-auto.com
