Licence agreement with Transpacific in March 2004
Plan to replicate LTI's Coventry facility in Mexico flawed
Now looking to JV or supply agreement with OEM, local assembler or Tier 1/2 supplier utilising an existing facility, existing overhead and existing paint operation
Three feasibility studies in progress.
Next steps – sign legal agreement, start of production in early 2006 (coinciding with launch of petrol engine vehicle in the US)