FPT signs MOU with Microvast
By Jim Gibbins - 1st December 2019
Italy / USA - FPT Industrial of Turin, Italy, the powertrain division of CNH Industrial, has signed a Memorandum of Understanding with Texas-based battery producer, Microvast Holdings Inc, aimed at an industrial and commercial co-operation to enable FPT Industrial to design and assemble battery packs in-house, at its facility in Turin, which would be then be offered on CNH Industrial vehicles and to third-party customers.
Hubertus Mühlhäuser, chief executive officer, CNH Industrial NV, said: “This agreement further prepares us for the challenges facing our industry. 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.”
