A pioneer move for Electric Commercial Vehicles: Garrett and SinoTruk sign Letter of Intent to bring leading high-speed electrified powertrain to E-trucks
Garrett Motion Inc. (NYSE: GTX) and China National Heavy Duty Truck Group Co., (SinoTruk) have signed a Letter of Intent to collaborate on advanced technologies for electric commercial vehicles. The partnership aims to develop a next-generation E-powertrain for SinoTruk's product portfolio, with mass production targeted for 2027.
The alliance will focus on Proof of Concepts for e-powertrain systems in light and heavy trucks, emphasizing energy efficiency and simplified vehicle integration. Garrett's high-speed electric motor technology allows for smaller, lighter, and more efficient electrified powertrains, while SinoTruk will contribute its expertise in high-speed transmission and beam-axle integration.
This collaboration is expected to set new standards for power density in the industry and accelerate the adoption of zero-emission technologies in the commercial vehicle market, particularly in China.
Garrett Motion Inc. (NYSE: GTX) e China National Heavy Duty Truck Group Co. (SinoTruk) hanno firmato una Lettera di Intenti per collaborare su tecnologie avanzate per veicoli commerciali elettrici. L'obiettivo della partnership è sviluppare un E-powertrain di nuova generazione per il portafoglio prodotti di SinoTruk, con produzione di massa prevista per il 2027.
L'alleanza si concentrerà su Prove di Concetto per sistemi e-powertrain in veicoli leggeri e pesanti, enfatizzando l'efficienza energetica e l'integrazione semplificata del veicolo. La tecnologia dei motori elettrici ad alta velocità di Garrett consente di ottenere powertrain elettrificati più piccoli, leggeri e efficienti, mentre SinoTruk contribuirà con la sua esperienza in trasmissioni ad alta velocità e integrazione dell'asse a trave.
Questa collaborazione si prevede che stabilirà nuovi standard per la densità di potenza nel settore e accelererà l'adozione di tecnologie a zero emissioni nel mercato dei veicoli commerciali, in particolare in Cina.
Garrett Motion Inc. (NYSE: GTX) y China National Heavy Duty Truck Group Co. (SinoTruk) han firmado una Carta de Intenciones para colaborar en tecnologías avanzadas para vehículos comerciales eléctricos. La asociación tiene como objetivo desarrollar un E-powertrain de próxima generación para la cartera de productos de SinoTruk, con producción en masa prevista para 2027.
La alianza se centrará en Pruebas de Concepto para sistemas de e-powertrain en camiones ligeros y pesados, enfatizando la eficiencia energética y la integración simplificada del vehículo. La tecnología de motores eléctricos de alta velocidad de Garrett permite crear powertrains electrificados más pequeños, ligeros y eficientes, mientras que SinoTruk aportará su experiencia en transmisiones de alta velocidad e integración de ejes de viga.
Se espera que esta colaboración establezca nuevos estándares de densidad de potencia en la industria y acelere la adopción de tecnologías de cero emisiones en el mercado de vehículos comerciales, especialmente en China.
Garrett Motion Inc. (NYSE: GTX)와 China National Heavy Duty Truck Group Co. (SinoTruk)가 의향서에 서명하여 전기 상용차를 위한 고급 기술 공동 개발에 나섰습니다. 이 파트너십의 목표는 SinoTruk의 제품 포트폴리오를 위해 차세대 E-powertrain을 개발하는 것으로, 2027년 대량 생산을 목표로 하고 있습니다.
이번 동맹은 경량 및 중량 트럭의 e-powertrain 시스템에 대한 개념 증명에 집중하며, 에너지 효율성과 차량 통합의 간소화에 중점을 둡니다. Garrett의 고속 전기 모터 기술은 더 작고 가벼우며 효율적인 전기화된 파워트레인을 가능하게 하며, SinoTruk은 고속 변속기와 빔 액슬 통합에 대한 전문 지식을 기여할 것입니다.
이 협업은 업계의 전력 밀도에 대한 새로운 기준을 세우고, 특히 중국에서 상용차 시장에서 제로 배출 기술의 채택을 가속화할 것으로 예상됩니다.
Garrett Motion Inc. (NYSE: GTX) et le China National Heavy Duty Truck Group Co. (SinoTruk) ont signé une lettre d'intention pour collaborer sur des technologies avancées pour véhicules commerciaux électriques. L'objectif de ce partenariat est de développer un E-powertrain de nouvelle génération pour le portefeuille de produits de SinoTruk, avec production de masse prévue pour 2027.
L'alliance se concentrera sur des preuves de concept pour des systèmes e-powertrain dans des camions légers et lourds, en mettant l'accent sur l'efficacité énergétique et l'intégration simplifiée des véhicules. La technologie de moteur électrique à grande vitesse de Garrett permet d'obtenir des groupes motopropulseurs électrifiés plus petits, plus légers et plus efficaces, tandis que SinoTruk apportera son expertise en transmissions à grande vitesse et en intégration de ponts de beam.
Cette collaboration devrait établir de nouvelles normes de densité de puissance dans l'industrie et accélérer l'adoption des technologies à zéro émission sur le marché des véhicules commerciaux, en particulier en Chine.
Garrett Motion Inc. (NYSE: GTX) und die China National Heavy Duty Truck Group Co. (SinoTruk) haben einen Absichtserklärung unterzeichnet, um in fortschrittlichen Technologien für elektrische Nutzfahrzeuge zusammenzuarbeiten. Ziel der Partnerschaft ist die Entwicklung eines E-Antriebs der nächsten Generation für das Produktportfolio von SinoTruk, mit geplanter Massenproduktion für 2027.
Die Allianz wird sich auf Machbarkeitsstudien für E-Antriebssysteme in leichten und schweren Lkw konzentrieren, wobei der Schwerpunkt auf Energieeffizienz und vereinfachter Fahrzeugintegration liegt. Die Hochgeschwindigkeits-Elektromotorentechnologie von Garrett ermöglicht kleinere, leichtere und effizientere elektrifizierte Antriebsstränge, während SinoTruk sein Fachwissen in Hochgeschwindigkeitsgetrieben und Trägerachsenintegration einbringt.
Diese Zusammenarbeit wird voraussichtlich neue Standards für Leistungsdichte in der Branche setzen und die Einführung von emissionsfreien Technologien auf dem Markt für Nutzfahrzeuge, insbesondere in China, beschleunigen.
- Partnership with major Chinese truck manufacturer SinoTruk
- Development of next-generation E-powertrain for commercial vehicles
- Targeted mass production of electric trucks by 2027
- Potential for increased market share in the growing electric commercial vehicle sector
- Opportunity to set new industry standards for power density in E-trucks
- Long timeline to mass production (2027) may delay revenue realization
- Potential risks associated with entering a new market segment
- Dependency on successful collaboration with SinoTruk for project success
Insights
This partnership between Garrett Motion and SinoTruk represents a significant step forward in the electrification of commercial vehicles, particularly in the Chinese market. The focus on high-speed electric motors for e-powertrains is innovative, promising smaller, lighter and more efficient systems for electric trucks. This approach could solve key challenges in the e-truck segment, such as range anxiety and payload capacity.
The commitment to start mass production by 2027 indicates a realistic timeline for development and testing. If successful, this collaboration could set new industry standards for power density in electric commercial vehicles. The emphasis on energy efficiency and simplified vehicle integration suggests potential cost benefits for fleet operators, which is important for widespread adoption.
However, investors should note that this is still a Letter of Intent, not a binding agreement. The success of this venture will depend on overcoming technical challenges and market acceptance. The focus on the Chinese market is strategic, given its size and government support for electrification, but global expansion may face different regulatory and market hurdles.
This partnership has significant market implications. China, the world's largest automotive market, is aggressively pushing for vehicle electrification. SinoTruk, as a major player in China's commercial vehicle sector, provides Garrett with a strong entry point into this rapidly growing market.
The global electric truck market is projected to grow at a
Investors should consider the long-term potential of this partnership. While immediate financial impact may be , successful development and commercialization could lead to substantial revenue growth post-2027. However, competition in this space is intensifying, with major players like BYD and Tesla also developing electric trucks. Garrett and SinoTruk will need to deliver on their promises of superior efficiency and performance to secure a strong market position.
ROLLE, Switzerland and PLYMOUTH, Mich., Oct. 17, 2024 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (NYSE: GTX) and China National Heavy Duty Truck Group Co., Ltd. (SinoTruk) signed a Letter of Intent (LoI) to enhance cooperation in advanced technologies for electric commercial vehicles, aiming to jointly develop leading next-generation E-powertrain for application in SinoTruk's product portfolio, with the aim of joining forces to start mass production of trucks equipped with this next gen E-powertrain by 2027.
Nils Martens, VP & GM Electric Powertrain of Garrett, and Li Xuefeng, Director of New Energy Business, Chairman of New Energy Commercial Vehicle at SinoTruk Group, signed the LoI
Under this alliance, the two companies will advance Proof of Concepts (PoCs) for e-powertrain systems in both light and heavy trucks, with a focus on energy efficiency and simplified vehicle integration. The projects aim to expand the adoption of zero-emission technologies in the commercial vehicle market, particularly in China.
Olivier Rabiller, CEO of Garrett said: “Garrett's capability to handle high-speed electric motors allows us to design significantly smaller and lighter electrified powertrains while maintaining leading energy efficiency. It allows for easier packaging, higher power and torque, and less material usage. This partnership with SinoTruk will accelerate the development of high-speed solutions that not only improve vehicle performance, but also contribute to global emission reduction goals, with E-trucks on the road by 2027. This will be an industry first: setting a new standard for power density!”
“This collaboration marks a significant milestone in our efforts to bring cutting-edge, zero-emission solutions to the commercial vehicle sector,” said Mr. Wang Chen, President of SinoTruk. “This partnership will help to advance our innovation leadership in the truck industry. We will complement Garrett’s high-speed E-drive with our high-speed transmission expertise and integrate into the best-in-class beam-axle. We look forward to working closely with Garrett to deliver breakthrough technologies that combine both performance and cost benefits for our fleet customers.”
About Garrett Motion China
Garrett established its presence in China in 1994 and was among the first global companies to introduce turbocharging technology into the country. Headquartered in Shanghai, Garrett has two world-class, advanced manufacturing facilities in Shanghai and Wuhan, as well as a R&D center. The company employs more than 1,000 people, including a China R&D team of over 200 specialists with end-to-end engineering and service capabilities. Garrett boasts lasting partnerships with more than 40 global and Chinese automakers. It offers a comprehensive portfolio of turbocharging technology for gasoline, diesel, natural gas, hybrid and zero emission technology for battery electric vehicles.
About Garrett Motion Inc.
Garrett Motion is a differentiated technology leader serving automotive customers worldwide for nearly 70 years. Known for its global leadership in turbocharging, the company develops transformative technologies for vehicles to become cleaner and more efficient. Its advanced technologies help reduce emissions and reach zero emissions via passenger and commercial vehicle applications – for on and off-highway use. Its portfolio includes turbochargers, electric turbos (E-Turbo) and electric compressors (E-Compressor) for both ICE and hybrid powertrains. In the zero-emissions vehicle category, the company offers fuel cell compressors for hydrogen fuel cell vehicles as well as electric propulsion and thermal management systems for battery electric vehicles. Garrett boasts five R&D centers, 13 manufacturing sites and a team of more than 9000 people located in more than 20 countries. Its mission is to empower the transportation industry to further advance motion through unique, differentiated innovations. For more information, please visit www.garrettmotion.com.
Contacts:
| Media | Investor Relations |
| Amanda Jones | Eric Birge |
| +41.79.601.07.87 amanda.jones@garrettmotion.com | +1.734.392.5504 eric.birge@garrettmotion.com |
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/13aef79f-91cc-4c1b-ac1a-30b27cb051f7
FAQ
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