Meritor, a supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets, has announced an additional strategic investment in TransPower.
TransPower develops electrification technologies for large commercial vehicles integrated drive systems, full electric truck solutions and energy-storage subsystems to major manufacturers of trucks, school buses, refuse vehicles and terminal tractors.
This investment will allow the company to advance the development of transformative electrification technologies for the commercial vehicle industry, It will be used to fund continued improvements in the development of controls for its eAxle.
Through various programs with major OEMs, almost 100 vehicles are planned to be equipped with Meritor and TransPower electrification systems between 2019 and 2020.
Terms of the transaction were not disclosed.
SOURCE: Press Release, Meritor, Inc.