GTXMQ Garrett Motion Inc.

A pioneer move for Electric Commercial Vehicles: Garrett and SinoTruk sign Letter of Intent to bring leading high-speed electrified powertrain to E-trucks

A pioneer move for Electric Commercial Vehicles: Garrett and SinoTruk sign Letter of Intent to bring leading high-speed electrified powertrain to E-trucks

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 .

Contacts:

MediaInvestor Relations
Amanda JonesEric Birge
+41.79.601.07.87





+1.734.392.5504

A photo accompanying this announcement is available at 



EN
17/10/2024

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Garrett Motion Inc.

 PRESS RELEASE

Garrett Motion Reports Third Quarter 2024 Financial Results; Updates F...

Garrett Motion Reports Third Quarter 2024 Financial Results; Updates Full Year 2024 Outlook Third Quarter 2024 Financial Highlights Net sales totaled $826 million, down 14% on a reported and constant currency* basisNet income totaled $52 million; Net income margin of 6.3%Adjusted EBITDA* totaled $144 million; Adjusted EBITDA margin* of 17.4%Net cash provided by operating activities totaled $67 millionAdjusted free cash flow* totaled $71 million Third Quarter 2024 Business Highlights Won new marine and auxiliary power awards for our largest turbocharger with start of pro...

 PRESS RELEASE

A pioneer move for Electric Commercial Vehicles: Garrett and SinoTruk ...

A pioneer move for Electric Commercial Vehicles: Garrett and SinoTruk sign Letter of Intent to bring leading high-speed electrified powertrain to E-trucks 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 ...

 PRESS RELEASE

Garrett expands its innovation footprint with new zero-emission R&D ce...

Garrett expands its innovation footprint with new zero-emission R&D center in Wuhan, China ROLLE, Switzerland and PLYMOUTH, Mich., Oct. 09, 2024 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (NASDAQ: GTX), a global leader in automotive technology, announced today the establishment of a new zero-emission innovation center in Wuhan, China. Garrett Wuhan Plant Building on its extensive and proven track record in China, Garrett will use the Wuhan Innovation Center to advance its research into cutting-edge zero-emission technologies. The center, based at Garrett’s Wuhan manufacturing facility, w...

 PRESS RELEASE

Garrett Motion to Hold Third Quarter 2024 Financial Results Conference...

Garrett Motion to Hold Third Quarter 2024 Financial Results Conference Call on Thursday October 24, 2024 ROLLE, Switzerland and PLYMOUTH, Mich., Oct. 07, 2024 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX), a leading differentiated automotive technology provider, today announced it plans to issue financial results for the third quarter 2024 on Thursday, October 24, 2024, before the open of market trading in the United States. Garrett will hold a conference call the same day at 8:30 am EDT / 2:30 pm CET. To participate in the conference call, please dial (US) or (international)...

 PRESS RELEASE

Garrett Motion Reports Second Quarter 2024 Financial Results; Updates ...

Garrett Motion Reports Second Quarter 2024 Financial Results; Updates Full Year 2024 Outlook Second Quarter 2024 Highlights Net sales totaled $890 million, down 12% on a reported basis and down 10% at constant currency*Net income totaled $64 million; Net income margin of 7.2%Adjusted EBITDA* totaled $150 million; Adjusted EBITDA margin* of 16.9%Net cash provided by operating activities totaled $126 millionAdjusted free cash flow* totaled $62 millionRepurchased $65 million of Common Stock Updated Full Year 2024 Outlook Net sales of $3,570 millionNet income of $275 million; Net income marg...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch