Haldex secures AWD order from Land Rover

STOCKHOLM, Sweden, January 26, 2009: Haldex has received an order from Land Rover, which is owned by Tata, an industrial group based in India. The order applies to Haldex’s all-wheel drive (AWD) system for one of Land Rover’s new car models.

Land Rover is Europe’s foremost manufacturer of jeeps that satisfy meticulous demands in terms of off-road characteristics. Haldex received its first Land Rover order for an AWD system in 2004. The new order reflects Land Rover’s continued confidence in Haldex’s leading-edge expertise in the field of advanced AWD.

Production is scheduled to commence in 2011.

The annual order value is estimated at SEK 100 million and the order represents a 100-percent increase in Haldex’s existing annual volume from Land Rover.

“As a result of the order, Haldex strengthens its position as an AWD partner with Land Rover and thus also within the expansive Tata Group. Tata Motors Ltd currently manufactures several all-wheel drive car models and the fact that it is located in the heart of one of the world’s most expansive regions represents a considerable advantage”, says Joakim Olsson, President and Chief Executive Officer of Haldex. “This transaction also strengthens Haldex’s position in the fuel-efficient cross-over segment”.