Meritor, Inc., (MTOR), a Michigan-based commercial vehicle OEM and aftermarket solution provider, has recently announced receiving a grant of 15.9 million euros from the Advanced Propulsion Center’s Core Competition Program, for escalating the production of 17Xe e-powertrain structure for heavy-duty buses and trucks.
Meritor, in partnership with Electra Commercial Vehicles and Danfoss Editron, had recently submitted the idea of Electric Powertrain Integration for heavy commercial vehicles project. According to reliable reports, companies are likely to join forces to produce a next-gen, zero-emission electric powertrain. What EPIC will do in this partnership is that it will provide a breakthrough technology to OEMs, supporting the companies to cut down costs and address the global carbon-emission targets.
Moreover, the grant would further help the association build an electric powertrain for vehicles in 4X2 and 6X2 dimensions having up to 44 tons without wheel-end reduction and nearly over 65 ton vehicles with wheel-end reduction.
Additionally, within this program, MTOR is seeking to set up a European center of Excellence for eMobility in South Wales, while Danfoss Editron looks forward to establishing an Innovation Center in the Edinburgh province of Scotland. Meanwhile, the two new centers are also likely to create new job opportunities in both the United Kingdom and Europe.
According to official sources, Meritor’s latest 17Xe e-powertrain system is expected to provide enhanced performance for hydrogen fuel cell and full electric vehicles. In fact, with this new project, the company looks forward to significantly expanding its Blue Horizon technology portfolio brand into the countries of Europe.
For the record, the EPIC project showcases the application flexibility integrated into Meritor’s latest e-powertrain portfolio, and the expanding demand for its solution. Besides, the company’s e-powertrain also represents a revolutionary technology for commercial vehicles, thus ensuring that its electrification revenues continue to prosper in the near future.
Post the announcement of grant receival, the stake of Meritor have potentially risen by 4.6% year to date as against the industry’s downfall of 6.4%.
Source Credit: https://www.nasdaq.com/articles/meritor-mtor-secures-15.9m-euros-for-developing-e-powertrain-2021-03-30