FPT Industrial has announced the signing of a Memorandum of Understanding (MOU) with US-based battery specialist Microvast, for an industrial and commercial cooperation to enable FPT Industrial to design and assemble battery packs in its Turin, Italy, facility.
FPT Industrial is also expected to design and engineer a new e-platform to develop and industrialize complete electrified powertrain systems, that will be sized and customized for specific missions, both on- and off-road.
“FPT Industrial is a recognized leader in alternative propulsion systems, and this agreement further preparers us for the challenges facing our industry,” said Hubertus Mühlhäuser, CEO of CNH Industrial, FPT Industrial’s parent company.
FPT Industrial has for some time championed the concept of a multi-power approach for future powertrains. The company is at the forefront in natural gas propulsion systems, especially for on-road applications and introduced at the Bauma show 2019 its Cursor X Power Source concept – a power unit that would adapt to provide the most suitable solution for the customer’s business and mission, whether based on natural gas internal combustion, hydrogen fuel cell electric generation or battery-stored energy.
The definitive agreement with Microvast is expected by the first quarter 2020.
Founded in 2006, Microvast is a vertically integrated company whose capability extends from core battery chemistry (cathode, anode, electrolyte, membrane separator) to application technologies (battery management systems) and other power control electronics. Microvast said it has supplied more than 30,000 traction battery systems worldwide in more than 160 cities.