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

FPT Industrial, the global powertrain brand of CNH Industrial, 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.

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“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.

Source: CNH Industrial N.V.

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