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Libertine announce Memorandum of Understanding with ASHOK LEYLAND LIMITED
Libertine Holdings PLC (LSE AIM: LIB), a developer of clean, highly efficient, and fuel-flexible Linear Generator technology, has entered into a Memorandum of Understanding (MOU) with Ashok Leyland to evaluate the use of Libertine’s technology platform for its commercial vehicle powertrains.
Ashok Leyland is a US $ 4.5 billion vehicle manufacturing company with a footprint that extends across 50 countries and a diverse commercial vehicle product range from 1T GVW (Gross Vehicle Weight) to 55T GTW (Gross Trailer Weight) trucks. The Ashok Leyland product portfolio also includes engines for industrial, genset and marine applications. Ashok Leyland is the 2nd largest manufacturer of commercial vehicles in India, the 4th largest manufacturer of buses in the world, and the 19th largest manufacturers of trucks.
Under the terms of the MOU, Ashok Leyland will conduct due diligence on Libertine’s technology and explore the scope for Linear Generator product development and demonstration within its commercial vehicle portfolio.
Sam Cockerill, Chief Executive of Libertine, commented: “Ashok Leyland is one of the world’s leading manufacturers of commercial vehicles, as well as being a major producer of industrial engines, marine engines, and engines for gensets. We are delighted to support Ashok Leyland’s evaluation of Libertine’s technology to accelerate the transition to electric propulsion in its commercial vehicle portfolio.”
Dr. Kanakasabapathi Subramanian, Senior VP and Head of Advanced Engineering at Ashok Leyland, commented: “Libertine’s technology is the logical evolution of an Internal Combustion Engine and could potentially allow for a software defined engine with true multi-fuel capability.”