Skip to content

FPT Industrial signs a Memorandum of Understanding with Microvast to develop and offer battery power systems

Release Date: Nov-19-2019
CNH Logo
FPT Industrial, the global powertrain brand of CNH Industrial (NYSE:CNHI / MI:CNHI), today announced that it has signed a Memorandum of Understanding with Microvast, aimed at an industrial and commercial cooperation to enable FPT Industrial to design and assemble battery packs in-house, at its facility in Turin, Italy, to be offered on CNH Industrial vehicles and to third-party customers.
 
“FPT Industrial is a recognized leader in alternative propulsion systems, and this agreement further prepares us for the challenges facing our industry,” said Hubertus Mühlhäuser, Chief Executive Officer, CNH Industrial. “In a fast evolving sector, CNH Industrial is committed to entering into targeted partnerships to deliver advanced alternatives to traditional fuels, thus accelerating our journey to a sustainable tomorrow.”
 
Furthermore, as part of this cooperation, FPT Industrial will design and engineer a new e-platform to develop and industrialize complete electrified powertrain systems, customized and sized for specific missions, with the aim of guaranteeing the most efficient performance both for on-road and off-road applications.
 
Conclusion of negotiations for the definitive agreements is expected by Q1 2020. 
 
Microvast, based in Houston, Texas, U.S.A., is a market leader in the design, development and manufacturing of ultra-fast charging, long-life battery power systems with superior safety for electric vehicles.
 
London, November 19, 2019
adding all to cart
False 0
File added to media cart.