NXT soars as Toyota fits flat panel speakers into new models
The market capitalisation of NXT plc, specialists in flat panel loudspeakers, soared after it said that two of the three new variants of Toyota Alphard and Vellfire are fitted with NXT-equipped roof liner speaker systems as standard in Japan.
The Cambridge-based company has seen it share price jump from 5.5p in early May to 22.5p yesterday, with the steepest rise in the past two trading days. Its market capitalisation is now around £31.4m.
NXT said the Toyota Alphard and Vellfire models, the leading marque’s flagship minivans, join the growing list of Toyota vehicles already available with NXT technology, which includes the FJ Cruiser in North America and the Estima, Voxy and Noah models also sold in Japan. Alphard and Vellfire models are predominantly marketed in Japan but also available in other Asian markets including Hong Kong, Malaysia and Thailand.
CEO Peter Thoms (pictured) said: "The roof liner speaker system is an excellent example of where our award-winning technology can deliver outstanding performance within strict design constraints. Including the two models from Citroen, there are now seven mass-production vehicles available with NXT technology and we look forward to strengthening our position in this important market as we move forward."
Designed to improve the audio system's staging and spatial effects, the NXT technology-based roof liner speaker raises the high frequencies within the vehicle's cabin to improve the overall entertainment experience for driver and passengers. The audio systems - including the NXT roof liner speaker - were developed for Toyota by Panasonic Electronic Devices.
13 May 2008
