BAGLEY, Minn. and SAN DIEGO – Fallbrook Technologies Inc. and TEAM Industries Inc. have entered into an exclusive licensing arrangement for the use of NuVinci CVP (continuously variable planetary) technology in North America and Europe for electric and gasoline light vehicle applications.
The licensing arrangement between TEAM and Fallbrook includes exclusive manufacturing rights for TEAM’s light utility and recreational vehicle families for North America and Europe and includes an engineering services agreement (ESA) for the development of a NuVinci vehicle transmission, with development running through 2013 and into 2014. The agreement also provides for royalties with commercialization volume milestones beginning in 2015.
TEAM is the largest supplier of rubber belt continuously variable transmissions (CVTs) to the All-Terrain Vehicles (ATVs), Utility Terrain Vehicles (UTVs), Low/Medium Speed Vehicles (LSVs/MSVs), and Neighborhood Electric Vehicles (NEVs) markets, all of which are included in Fallbrook’s license to TEAM.
Fallbrook Technologies Inc. is a privately held technology development company headquartered in San Diego, Calif., and has its primary operations and product development activities located in Cedar Park, Texas, with employees and other operations in Michigan, China and Europe. Current major investors are Robeco, NGEN Partners LLC, Macquarie and Allison Transmission Holdings Inc.
