FPT Industrial, the global powertrain brand of CNH Industrial, announces 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.
“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 and this agreement can strategically provide us with competitive advantages for our global operations.”
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.
“FPT Industrial is a recognized leader in alternative propulsion systems, and this agreement further preparers us for the challenges facing our industry,” says 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.”
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.