MILAN Italian auto parts maker Sogefi and Volkswagen's (VOWG_p.DE) Audi have jointly developed new suspension spring technology which will result in more precise driving and lighter parts, Sogefi said on Thursday.
Sogefi's shares rose more than 3 percent on the news, and were up 2.6 percent at 4.09 euros by 1333 GMT, outperforming a 1 percent rise in Milan's All-Share index.
The new suspension springs, based on a technology patented by Sogefi, will be made from a glass fiber-reinforced polymer instead of steel and will weigh between 40-70 percent less than traditional steel springs, the company said.
They can be assembled on cars and light commercial vehicles without affecting the suspension system architecture, allowing for a weight reduction of 4-6 kg (8.8-13 lb) per vehicle, it added.
Audi will launch the new springs in an upper mid-size model before the end of this year.
(Reporting by Agnieszka Flak; Editing by Mark Potter)