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 www.garrettmotion.com.

Contacts:

Media	Investor Relations
Amanda Jones	Eric Birge
+41.79.601.07.87 amanda.jones@garrettmotion.com	+1.734.392.5504 eric.birge@garrettmotion.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/13aef79f-91cc-4c1b-ac1a-30b27cb051f7