FPT Industrial, the global powertrain brand of Iveco Group (MI: IVG), together with its Microvast Holdings, Inc. (NASDAQ: MVST), a leading global supplier of next-generation battery technologies for commercial and specialty vehicles, will provide the complete battery system for the new Crossway Low Entry city and intercity bus manufactured by IVECO BUS, also a brand of Iveco Group and leading manufacturer of buses and coaches.
The award of the contract was achieved on the basis of the 2019 agreement, which includes an industrial and commercial collaboration between Microvast and FPT Industrial. The latter company is a leader in the development of mechanical and thermal integration and industrialization of high-voltage battery packs for commercial vehicles. For the IVECO BUS Crossway Low Entry (LE) Electric, Microvast has designed a battery pack with high energy density between 400 and 466 kWh depending on operational mission needs, industrialized, validated and certified by FPT Industrial. This latest generation battery pack will set an industry standard in terms of energy density and charge capacity, giving the Crossway LE Electric up to ten years of battery life.
This is an important step forward in a common “journey towards electrification”. The IVECO BUS Crossway LE Electric anticipates the project of the new IVECO e-Daily, to be launched at the end of 2022. The new electric Daily will be equipped with a modular battery concept with 1 to 3 batteries ranging from 37 to 111 kWh, pioneering the collaboration between Microvast and FPT Industrial in this first application aimed at achieving the zero emissions standard in the chassis segment with to put cabin.
“In this fast-moving sector, FPT Industrial is committed to forging targeted partnerships to deliver modern alternatives to traditional fuels and to accelerate our journey towards a zero-carbon future,” said Sylvain Blaise, President Powertrain Business Unit of Iveco Group. “This collaboration with Microvast underscores our commitment to becoming a multi-power technology leader and provides us with competitive advantages in the marketplace.”
“Our next-generation battery pack design with high-energy cells will set an industry standard in terms of pack-level energy density,” said Sascha Kelterborn, Chief Revenue Officer, Microvast Holdings, Inc. “Microvast works closely with partners in the commercial vehicle industry and goes all out working to advance the electrification of commercial vehicles with market-leading battery technologies. Our successful cooperation with FPT Industrial clearly shows that we are on the right track.”
Microvast will supply battery cells and modules from its manufacturing facilities around the world based on project requirements from FPT Industrial. Subsequently, FPT Industrial will assemble the battery packs at its factory in Turin. The IVECO BUS Crossway LE Electric will be presented in tenders in 2022, the first deliveries are expected to take place from mid-2023.