STOCKHOLM, Sweden -- SKF and Ricardo have signed an agreement to develop energy-efficient solutions to better serve the increasing customer demand from the automotive industry for increased fuel economy and reduced CO2.

Through the cooperation both companies say they will be able to offer their common customer base a “one-stop-shop” partner, providing leading-edge research, product and application development and cost efficient manufacturing and supply. The cooperation is based on a number of identified areas covering long-term research projects, application and product development as well as customer-specific solution development. The initial focus will be on increasing the efficiency of today’s transmission and engine technology, based on contacts with leading global automotive original equipment manufacturers.

"SKF is already very active in the development of energy-efficient solutions. The co-operation between SKF and Ricardo strengthens our position as a frontrunner in the industry and also our position in this field," said Tryggve Sthen, president of SKF’s Automotive Division.

"We are very pleased to be entering this agreement with SKF to jointly address some of the energy efficiency issues facing the automotive industry, in order to provide technology to our customers that will enable the next generation of low-carbon vehicles," added Ricardo CEO Dave Shemmans.

Ricardo, a leading provider of consulting services to the automotive, transport and energy industries, announced a similar agreement with Recaptured Energy Technologies in October.