FPT Industrial has signed a Memorandum of Understanding with Microvast for battery technology. This move will allow FPT Industrial to design and assemble battery packs in-house, at its facility in Turin, Italy. These will be utilised on construction machines from CNH Industrial as well as for third-party customers.
“FPT Industrial is a recognised leader in alternative propulsion systems, and this agreement further preparers us for the challenges facing our industry,” said Hubertus Mühlhäuser, CEO, CNH Industrial. “In a fast evolving sector, CNH Industrial is committed to entering into targeted partnerships to deliver advanced alternatives to traditional fuels, 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 industrialise complete electrified powertrain systems, customised and sized for specific applications, 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, USA, 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.