Ricardo Creates New Strategic Business Group to Focus on Hybrid Vehicle Development

VAN BUREN TWP., Mich., Sept. 8, 2008 - Ricardo, Inc., a leading independent provider of technology, product innovation and engineering solutions to the world's automotive, military, transport and new energy industries, today announced the formation of a dedicated global strategic business group to focus the company's state-of-the-art resources in technology, facilities and engineering skills on hybrid and electric vehicle development.

The new organization, to be known as the Ricardo Global Hybrid Product Group, will consolidate the company's extensive capability into a single and highly focused unit, encompassing advanced skills and expertise in all aspects of hybrid vehicle engineering -- from system architecture definition, power electronics design and advanced energy management and control technologies, to the implementation of the numerous hybrid vehicle sub-systems and electrical ancillaries. It also will leverage the company's expertise in intelligent by-wire technologies for systems such as steering, braking and chassis control.

Since 2000, Ricardo has been responsible for more than 100 hybrid powertrain and vehicle programs, ranging from simulation and strategy studies and concept developments to numerous product engineering programs. The company enjoys an extremely strong reputation in advanced hybrid technology research, based on significant and continuous investment. Ricardo is thus ideally placed to assist its customers with electrification of the architecture and propulsion systems of future high fuel-efficiency vehicles.

In addition to providing a clear focus for these hybrid-related skills and technologies, the Global Hybrid Product Group also will be able to utilize the latest thinking in high fuel efficiency, low-emissions diesel and gasoline engines, transmission systems and vehicle engineering development methods using technologies drawn from across the global Ricardo organization. The group will have full access to Ricardo's advanced powertrain and vehicle testing infrastructure, including the Battery Systems Development Center currently under construction at the company's Detroit Technology Campus and scheduled to open later in 2008.

The director of the Ricardo Global Hybrid Product Group will be Dr. Roger Thornton, an engineer with more than 25 years of experience in the specification, development and transfer to production of power electronics based systems and products for transport applications. Thornton has held senior engineering management and consulting positions for companies including PA Technology, The Technology Partnership, and electric and hybrid vehicle developer Wavedriver. He also founded his own technology consulting firm, Contex Consulting.

During his period with Wavedriver, Thornton was involved in the successful implementation of multiple hybrid and electric vehicle demonstration programs and trials throughout the world. He joined Ricardo in 2006 as senior hybrids manager and has played a pivotal role in recent hybrid programs such as the recently announced Chery A5 BSG and ISG hybrids, 50 of which were used for transportation during the Beijing Olympics.

Dr. Deepa Ramaswamy, Chief Engineer of Hybrid Systems for Ricardo Inc., will lead all U.S.-based hybrid programs.

"With the increasing focus on fuel economy and CO2 emissions reduction, automakers in all parts of the world aspire to include hybrid vehicles as a significant part of their future mainstream product portfolios," said Thornton. "In order to maximize the potential benefits of hybridization, we need to draw upon a much wider range of skills and technologies than for conventionally powered vehicles. We also need to focus these skills and technologies at a system level, ensuring that the new products fulfill their fuel economy and performance objectives while also delivering a robust, fun-to-drive product that can be manufactured efficiently and sold profitably. If we do this, the business case for hybridization can be extremely compelling."

Ricardo, Inc. President Dean Harlow noted the Battery Systems Development Center in Van Buren Township, Michigan, will play an important role in hybrid projects developed by the Global Hybrid Product Group. "We believe that by 2020, a large majority of vehicles will employ some form of hybridization, ranging from mild 'stop-start' to plug-in hybrids and range-extending electric generator systems. Hybrids require very precise development and integration of the entire electrical architecture of the vehicle, particularly regarding the battery pack and its control system. Given our broad knowledge base and proven track record of successful program launches, we are well positioned to help our customers accelerate the introduction of a variety of electric vehicle technologies into the market."

Mark Garrett, Ricardo plc group engineering and products director, added: "Ricardo has one of the most impressive and enviable track records in the automotive industry for the successful delivery of hybrid vehicle programs, both as advanced technology demonstrators and as production products for consumers. In order to take this capability to the next stage and enable hybrids to take their place as mainstream competitive products, a new approach to product development is needed. I believe that with the resources and experience of the global Ricardo group, the focus of the new Global Hybrid Product Group and the leadership of its director, Roger Thornton, we will be able to offer an unparalleled and comprehensive service for automakers in all parts of the world that wish to develop or improve their hybrid vehicle product lineup."