FPT Industrial Signs Memorandum of Understanding with Microvast

FPT IndustrialFPT Industrial is a brand of CNH Industrial. The company dedicates itself to the design, production and sale of powertrains for on and off-road vehicles, marine and power generation applications. Recently, they signed a memorandum of understanding foreseeing an industrial and commercial cooperation with Microvast. This will enable FPT Industrial to design and assemble in-house high-voltage battery packs. CNH Industrial vehicles and third-party customers can then offer them.

“FPT Industrial is a recognized leader in alternative propulsion systems. 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. This accelerates our journey to a sustainable tomorrow.”

Additionally, as part of this cooperation, FPT Industrial will start a new e-platform to develop and industrialize complete electrified powertrain systems. It will be customized and sized for specific missions. Its aim is to guarantee the most efficient performances both for on-road and off-road applications.

“This collaboration sets a faster pace to our innovation journey”, states Annalisa Stupenengo, President Powertrain. “We are increasingly involved with the development of multiple power technologies. This agreement can strategically provide us with competitive advantages for our global operations.”

There is an expectation that a conclusion of negotiations for the definitive agreements, including both cooperation and license contracts, will come by Q1 2020.

About FPT Industrial

FPT Industrial is a brand of CNH Industrial, dedicated to the design, production and sale of powertrains for on and off-road vehicles, marine and power generation applications. The company employs more than 8,000 people worldwide, in ten manufacturing plants and seven R&D Centers. The FPT Industrial sales network consists of 73 dealers and about 800 service centers in almost 100 countries. It also consists of a wide product offering. The offering includes six engine ranges. These range from 42 hp up to 1,006 hp and  transmissions with maximum torque of 200 Nm up to 500 Nm. They also feature front and rear axles from 2 to 32-ton GAW (Gross Axle Weight). FPT Industrial offers the most complete Natural Gas engines line-up on the market for industrial applications <This is including engine ranges from 136 hp up to 460 hp.

This extensive offer and a close focus on R&D activities make FPT Industrial a world leader in industrial powertrains. For further information, visit www.fptindustrial.com.

About Microvast Company

Founded in 2006, Microvast, Inc. is a rapid growing market leader in design, development and also manufacturing of ultra-fast charging, long life traction battery systems with superior safety features for electric vehicles. Microvast receives accolades for its cutting-edge cell technology and also the vertical integration capability. This extends from core battery chemistry (cathode, anode, electrolyte, membrane separator) to application technologies (battery management systems) and other power control electronics. By integrating the process from raw material to system assembly, Microvast is able to provide customized solutions with reduced project development time and at controllable costs. Up till now, Microvast has supplied over 30,000 traction battery systems worldwide in more than 160 cities. Microvast GmbH is the EMEA headquarter of Microvast, Inc.

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