Garrett expands its innovation footprint with new zero-emission R&D center in Wuhan, China
ROLLE, Switzerland and PLYMOUTH, Mich., Oct. 09, 2024 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (NASDAQ:GTX), a global leader in automotive technology, announced today the establishment of a new zero-emission innovation center in Wuhan, China.
Garrett Wuhan Plant
Building on its extensive and proven track record in China, Garrett will use the Wuhan Innovation Center to advance its research into cutting-edge zero-emission technologies. The center, based at Garrett's Wuhan manufacturing facility, will focus on high-speed E-Powertrain systems, fuel cell compressors, and electric vehicle cooling solutions. It will feature state-of-the-art R&D labs, a prototype development workshop, and offices with advanced testing capabilities. The addition of the Wuhan Innovation Center will enhance Garrett China's role in the global R&D network, accelerating the transition of zero-emission technologies to practical applications for local market needs.
Garrett E-powertrain (3-in-1 E-Axle)
"For the past 30 years, we have been at the forefront of providing cutting-edge turbo technologies to the Chinese automotive industry," said Olivier Rabiller, President and CEO of Garrett Motion. "Over the last 15 years, we have seen firsthand the depth of talent in Wuhan as we've expanded our manufacturing footprint, producing over 10 million turbos. Now, we are taking a significant step forward, establishing a new lab focused on driving industry-leading technologies for electric powertrains in new energy vehicles. The Wuhan Innovation Center will complement our state-of-the-art R&D Center in Shanghai and strengthen our ability to meet the evolving needs of the Chinese automotive industry."
Jessica Zhang, Vice President and General Manager of Garrett China, highlighted the importance of Wuhan's automotive innovation ecosystem: "Our new Wuhan Innovation Center will significantly enhance our R&D capabilities in China. As demand for zero-emission vehicles continues to rise, this center will enable us to develop transformative technologies that improve electric vehicle performance and range. The city's growing automotive cluster will help us attract top talent, engage new partners, and collaborate with leading universities."
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.
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 2 innovation centers. 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.
Forward-Looking Statements
This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of fact, that address activities, events or developments that we or our management intend, expect, project, believe or anticipate will or may occur in the future are forward-looking statements including, without limitation, our statements regarding the completion of the Offering. Although we believe forward-looking statements are based upon reasonable assumptions, such statements involve known and unknown risks, uncertainties, and other factors, which may cause the actual results or performance of the Company to be materially different from any future results or performance expressed or implied by such forward-looking statements. Such risks and uncertainties include but are not limited to those described in our annual report on Form 10-K for the year ended December 31, 2023, as well as our other filings with the Securities and Exchange Commission, under the headings "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements." You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this document. Forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by our forward-looking statements.
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