Remy presents new motors for hybrids
Remy International is unveiling a new line of electric motors for hybrid cars and trucks today that could set off an expansion in Anderson and eventually account for a third of the company’s sales.
The light duty motor, called the HVH250, eventually could account for $500 million in sales and push total annual sales volume at Remy to more than $1.5 billion, said John Weber, head of the Pendleton-based company.
Landing a major order for the motor could lead the company to put in a new production line at a site in the Anderson area using the federal grant money, Weber said. The site has not been identified.
Remy received a $60.2 million in federal green-car grants this summer to help pay for tooling up production of the new motor.
Remy will display the new model today at the Society of Automotive Engineers’ commercial vehicle trade show at Rosemont, Ill.
The motor is a standard design intended to be marketed to a wide range of auto and truck makers. It is meant to replace expensive custom motors used in most hybrid autos and work trucks. Versions of the unit are already in place in 35,000 vehicles.
“We have a very broad list of customers,” Weber said. “The discussions we have with each customer are very disciplined to make sure it incorporates our strategy of using our standard product.”
Customers of Remy’s automotive productions include BMW, General Motors, Hyundai and Mercedes. The company employs 5,900 worldwide, including 400 in Indiana at Pendleton, Anderson and Peru.
Remy last year earned $96 million on sales of about $1 billion. The company, spun off by GM in the 1990s, is the largest auto-parts maker based in Indiana.
new model today, car grants, remy international, federal grant money, society of automotive engineers, work trucks, hybrid autos, hybrid cars, product customers, john weber, anderson area, largest auto, green car, s sales, light duty, sales volume, rosemont, general motors, auto parts, biztopstories, Business, local, pmupdate, topstories, Pendleton, News

0 comments