Remy International Starts New Business Division

Remy International has unveiled a new business unit, Remy Electric Motor Technologies, which will accelerate its efforts to provide high-output electric drive motors for electric and hybrid-electric vehicles and equipment.

According to the company, Kevin Quinn will lead the newly formed business unit. Prior to joining Remy, he was owner and managing director of Power Technology Ventures, a business development firm specializing in emerging power technologies. He also served with several fortune 50 companies, including Allied Signal/Honeywell, DuPont and GE.

John Weber, CEO of Remy International, said: “We are projecting rapid growth over the next five years in the Electric Vehicle/Hybrid Electric Vehicle market, and Remy has some terrific technology for these applications. Kevin brings a wealth of experience to new business launches, and we're delighted to have him leading our efforts here. We expect to build a $500m global business unit for Remy International, and we're investing the resources to make this happen. We're staffing up our engineering, sales and market development functions immediately, and we'll be expanding our manufacturing capacity by the end of this year.”

The company said that last October, it had introduced an advanced electric motor for hybrid and hybrid-electric vehicles. This product, the HVH250, is based on Remy's patented high voltage hairpin technology and offers the high power and torque density. It is the first in a series of new products planned by Remy for automotive, truck, bus and heavy equipment markets.

In addition, with multiple manufacturing sites in North America and Europe, Remy has capacity to produce around 100,000 of electric motors annually. The company's expansion of this product line is being funded in part by recent US Department of Energy grants aimed at accelerating the commercialization of next generation electric vehicle technologies.