Meritor, a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets, has acquired all the outstanding common shares of Transportation Power (TransPower), a provider of electrification technologies for large commercial vehicles. Terms of the transaction were not disclosed.
In 2017, Meritor made a strategic investment in Transpower. (Earlier post.)
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.—Jay Craig, Meritor’s CEO and president
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 Horizo 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.
Earlier this month, Werner Enterprises, a premier transportation and logistics provider, announced it is testing a 2019 Peterbilt 579 EV Class 8 electric truck for a year on a dedicated account in Southern California. Werner’s first electric-powered truck is the result of a partnership with Peterbilt, Meritor and TransPower.