Ficosa and Panasonic have signed the first contract for a co-developed product.

Both will produce an interior rearview mirror for a major European manufacturer (OEM), which will incorporate an electronic toll function that allows the automatic payment of motorway tolls without having to stop the vehicle. The project, which will last for seven years, is valued at EUR50m and will be produced in the Ficosa plant in Viladecavalls, Barcelona, Spain.Ficosa CEO Javier Pujol said: "We are very pleased because during the first year of our agreement with Panasonic, besides presenting co-developed products, we have also managed to win our first joint contract. This project is a clear example of the great potential offered by this alliance, giving us the necessary critical mass to position ourselves at the forefront of the transformation that the automotive industry is currently experiencing."

Intended for the Japanese market, the rearview mirror allows payment of highway fees due to the integration of an electronic toll system with credit card. The mirror has a card slot a small screen at the top that shows the amount to be paid. Aadditional functionality goes beyond simple payment as the mirror communicates with the toll station and is able to transmit information to the vehicle navigation system.

Panasonic developed the credit card reading module while Ficosa was in charge of the electronic management of the entire system, structural and aesthetic components and of the development of a lighting component.