Press Release
COFLE TECHNOLOGY ON THE NEW INEOS GRENADIER OFF-ROAD VEHICLE
Cofle concluded the agreement with INEOS Automotive in order to start the last phase of test
before the start of production: total value of the order up to a maximum of 3 million euros in
biennium 2022/2023
Trezzo sull'Adda (MI), 22 November 2021 - Cofle S.p.A. (the "Company" or "Cofle") - a leading
company in the design, production and worldwide trading of control cables and control systems for
the off-road vehicles, automotive and automotive after market sectors - announces an agreement
with INEOS Automotive, a subsidiary of INEOS Group, to start the second phase of prototyping of
reduced gear unlock and differential lock-and-release systems, developed and customized by Cofle
Engineering Center for the new 4x4 INEOS Grenadier off-road vehicle.
INEOS Automotive has chosen Cofle as a partner for the top quality of its components and its
attention to the needs of the reference sector, being part of a project that includes important sales
plans worldwide in the coming years.
The agreement provides that, following the excellent results obtained in the first test phase, the
second and final test phase on approximately 700 vehicles will begin in February 2022. This phase
will be preliminary to the start of production in the following months for a total value of the order
in the biennium 2022/2023 up to a maximum of 3 million euros.
Born from the vision of INEOS Group President, Jim Ratcliffe, the Grenadier is a practical and
concrete 4x4 off-road vehicle built to be a citizen of the world. Designed from scratch on the basis
of a new platform, the Grenadier was conceived with a clear objective: to meet the needs of its
future owners by offering a robust, effective and comfortable working vehicle to tackle any
terrain. Sales of the 4X4 Grenadier are expected to begin in summer 2022.
Walter Barbieri, President and CEO of Cofle, commented: “We are very pleased to be part of this new project,
born from a deep technical collaboration with the customer. This confirms how successfully Cofle can offer
itself as a worldwide technological partner. Our R&D departments, which include the best engineers in the
category, have worked hard on this project and, once again, the investments made over the years in R&D - I
remark that in 2020 alone the Group allocated 1.1 million Euros - proved to be a winning strategy for being
competitive on the market. We will continue in this direction; we have established that a 20% of the IPO will
be destined to enhance research and development with the aim of producing new highly specialized and
innovative products capable of following market trends. This will allow us to operate above all in niches
characterized by a strong demand for product innovation, and to anticipate our competitors by providing an
optimal level of service to client companies ".