Defense / EV Stock News: Meritor (NYSE: $MTOR) Announces Collaboration with BAE Systems to Deliver Electric Drivetrains for Industrial Vehicles and Defense markets
TROY, Mich. - December 7, 2021 (Investorideas.com Newswire, Homelanddefensestocks.com) Meritor, Inc. (NYSE: MTOR) today announced that it will collaborate with BAE Systems to deliver electrification for the Industrial and Defense markets.
The companies will work together to offer efficient, cost-effective, fully-integrated electric vehicle solutions. As part of this strategic collaboration, BAE Systems will leverage its expertise in systems integration and power electronics to incorporate its power management system with Meritor's ePowertrain for a comprehensive and compact solution.
Meritor's all-electric, ePowertrain is designed to provide high efficiency, performance, significant weight savings and superior space utilization. The technology will harness both companies' experience and knowledge in electric mobility. Meritor began integrating electric motors into axles for industrial vehicles over twenty years ago.
"This is a great example of bringing two companies together to deliver a superior electrification solution," said Jim Keane, vice president, Industrial for Meritor.
"We are proud to leverage our core strengths alongside Meritor's to build on our electrification journeys," said Steve Trichka, vice president and general manager, Power & Propulsion Solutions at BAE Systems.
About BAE Systems
BAE Systems' Series-EV battery electric and Series-H hydrogen fuel cell products build on 25 years of innovation that powers buses around the world. The company has all-electric systems on buses in service throughout North America and Europe, and more than 14,000 propulsion systems in service on transit buses worldwide. Each year those systems contribute to a cleaner world by saving more than 30 million gallons of fuel and eliminating 335,000 tons of carbon dioxide each year across the globe - the equivalent of taking 59,000 cars off the road or planting four million trees.
BAE Systems develops and services its electric propulsion technology at its facilities in Endicott, N.Y., and Rochester, UK.
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 9,600 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.
SOURCE Meritor, Inc.
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