MUMBAI, India, June 4, 2013 -- NRB Bearings Ltd., one of India's largest manufacturers of bearings and IIT Bombay, today announced the launch of IIT Bombay Racing Team to participate at the Formula Student Competition UK 2013, an international level formula racing competition designed for students to develop and hone their skills and abilities in science, technology, engineering and math (STEM). NRB Bearings in cooperation with IIT Bombay, has launched the EVo2 (Electric Vehicle 02) and hosted the test run at their IIT Bombay campus in India.

This initiative is a step by NRB Bearings to combine their commitment to state-of-the-art design engineering with the desire to equip talented students with the capabilities to compete with students from the best institutions. NRB Bearings is sponsoring students of IIT Bombay and providing the required impetus in the form of mentoring and financial help, to help them compete in this prestigious program. Along with that, NRB Bearings has also provided access to its design centre and facilities to these students so as to design and build the vehicle.

Commenting on this association President and Managing Director, Ms Harshbeena S Zaveri said, ?NRB Bearings is very passionate and excited to be associated with IIT Bombay Racing as it creates a sense of pride to be able to mentor the country?s best upcoming talent in the engineering space. NRB Bearings hopes this competition, will trigger a passion for science and technology, encouraging and inspiring the students from all social backgrounds to look at design engineering, mechanical and electrical engineering as interesting career options. Formula Student held at UK is a prestigious program and we consider ourselves happy to be a part of this. This will go a long way in creating skill-sets required to fuel the industrial growth of Maharashtra, ensuring its position as the preferred location for automotive engineering product industry. ?

Also providing his thoughts on the occasion was Prof. P.M. Mujumdar, the Dean R&D IIT Bombay,

"I am proud of the team?s accomplishments and the passion with which they poured effort into their work. I am confident that they shall put up a good show at the competition?.

EVo2 was launched by IIT Bombay, and the program was presided over by

Dr. Prof. P.M. Mujumdar (Dean R&D, IIT Bombay),

Ms Jyotsna Sharma (CFO & VP IT, NRB Bearings),

Mr. Hemant Jog (VP Mfg. Operations, NRB Bearings).

Honorable Chief Guest Mr. Prabal Sharma (Consulting Director, Institute of Mechanical Engineers-India.)