The consolidation of EV businesses moves forward.
It's just one of many acquisitions that we see in recent years in all EV fields, which clearly indicate that big companies are getting serious about introducing products for electrified vehicles.
The smaller players, on the other hand, despite their know-how, probably are struggling to compete with OEMs and their vast resources.
"With the addition of TransPower’s product portfolio, Meritor advances its M2022 priorities through increased investment in next-generation technologies. It also further establishes the value of Meritor’s Blue Horizon™ brand, which represents the company’s emerging platform of advanced technologies centered on electrification.
TransPower, a California-based company, supplies integrated drive systems, full electric truck solutions and energy-storage subsystems to major manufacturers of trucks, school buses, refuse vehicles and terminal tractors. The company has been focused exclusively on developing electrical drive solutions since its inception in 2010."
Jay Craig, Meritor’s CEO and president said:
“We are excited to welcome TransPower to the Meritor family as we continue providing our customers with sophisticated electric drivetrain solutions. This acquisition enables us to further position the company as a premier supplier of electrification technologies for commercial vehicles.”
Let's take a look at some of the TransPower projects: