Meritor Awarded New Business to Produce Electric Powertrains for Lion Electric

Rhea-AI Summary

Meritor, Inc. (NYSE: MTOR) has secured a three-year supply agreement with Lion Electric, a Canadian manufacturer of medium and heavy-duty zero-emission vehicles. Under this agreement, Meritor will provide its Blue Horizon™ 14Xe™ integrated ePowertrain for Lion Electric's Class 8 tractors, with production commencing in mid-2021. This partnership highlights Meritor's commitment to advanced electric powertrain technologies, reinforcing its status as a reliable supplier in the electrification sector.

Positive

• Secured a three-year supply agreement with Lion Electric for electric powertrains.
• Production of the integrated ePowertrain will begin in mid-2021, indicating growth potential.
• Strengthens Meritor's position in the sustainable mobility market.

Negative

• None.

TROY, Mich., Feb. 3, 2021 /PRNewswire/ -- Meritor, Inc. (NYSE: MTOR) today announced it has been awarded a three-year supply agreement with Lion Electric, a Canadian manufacturer of medium and heavy-duty zero-emission vehicles. Meritor will supply Lion Electric Class 8 tractors with its Blue Horizon™ 14Xe™ integrated ePowertrain. Production is scheduled for mid-2021.

"Lion Electric is driving the future of sustainable mobility in the commercial vehicle space, and Meritor is proud to provide Lion Electric with electric powertrain technologies that meet the needs of its next-generation tractors," said T.J. Reed, vice president of Global Electrification for Meritor. "This award is a testament to the commitment we've made to investing in advanced technologies, so we can continue being a trusted partner and supplier of electrification technologies for the industry."

Meritor's 14Xe all-electric, fully integrated, commercial electric powertrain for medium- and heavy-duty commercial vehicles, will be produced in Asheville and Forest City, North Carolina.

About Meritor
Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking, aftermarket and electric powertrain solutions for commercial vehicle and industrial markets. With more than a 110-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Michigan, United States, and is made up of more than 8,600 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Meritor common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at www.meritor.com.

 

View original content to download multimedia:http://www.prnewswire.com/news-releases/meritor-awarded-new-business-to-produce-electric-powertrains-for-lion-electric-301220991.html

SOURCE Meritor, Inc.

FAQ

What is the recent supply agreement announced by Meritor (MTOR)?

Meritor has agreed to supply Lion Electric with its Blue Horizon™ 14Xe™ integrated ePowertrain for Class 8 tractors over three years.

When will production for the Blue Horizon™ 14Xe™ powertrain start?

Production is scheduled to commence in mid-2021.

How does the agreement with Lion Electric affect Meritor's future?

The agreement enhances Meritor's growth in the electric vehicle segment and solidifies its role as a supplier of advanced powertrain technologies.