(Yicai Global) July 26 -- Auto component manufacturer Shanghai Baolong Automotive Corporation [SHA:603197] is to offer a self-developed real-time tire pressure monitoring system (TPMS) to GM Do Brasil Ltda, a Brazilian subsidiary of General Motors Corporation [NYSE:GM]. Both parties have signed a 10-year procurement contract as part of their cooperation.

The performance period for the contract starts from July 18, 2017 and will end on Jan. 1, 2028. The procurement amount is subject to actual settlement, per a statement from Baolong Automotive issued on July 24.

The TPMS developed by Baolong Automotive can achieve real-time monitoring on the condition of tires through electronic sensors installed in tires, which offers sufficient security guarantee for driving, the statement said.

Baolong Automotive said the above agreement marks the start of the cooperation between GM and the company in TPMS export business worldwide, which also makes a positive effect on its cooperation with other international auto brands in TPMS technologies.

Although affected by Brazil's overall economic predicament witnessed in 2016 when GM Do Brasil Ltda only sold 346,000 vehicles, the company still retains the largest sales share in Brazil's automobile market, it added.