Cylinder and battery pack company Hexagon Purus signed a long-term binding letter of intent with Toyota subsidiary Hino Motors Manufacturing US to provide battery packs, aftermarket support and service to Hino for building electric and commercial trucks.
“Commercial trucks use the most fuel and produce the most emissions in the transport sector, accounting for more than 40% of all road freight emissions. The mass adoption of zero-emission battery and fuel cell electric trucks among fleets will be key to decarbonizing the sector,” says Todd Sloan of Hexagon Purus’s EVP Systems.
Hexagon Purus will supply battery packs for battery-electric and fuel cell commercial trucks built by Hino. As part of the agreement, the companies will continue developing a battery-electric commercial truck program called Project Z, perform customer demonstrations in 2023, and begin production of Class 6, 7 and 8 trucks in 2024. Early production of the trucks will take place at an under-construction plant in Kelowna, Canada which is slated for completion in Q3 of 2022.
Hexagon estimates the total sales value of the agreement for its duration at $1 billion.
“We are committed to a very aggressive road map for achieving CO2 emissions reductions. Project Z’s focus is on providing sustainable next-generation commercial mobility that delivers a 90% reduction in CO2 emissions in commercial trucks,” said Hino’s Senior VP of Customer Experience Glenn Ellis.
Source: Hexagon Purus