Core Insights - Garrett Motion Inc. inaugurated its new Wuhan Innovation Center, enhancing its zero-emission R&D capabilities in China and globally [2][3] - The center is part of Garrett's strategy to strengthen its position as a leader in differentiated automotive technologies, particularly in electrification and decarbonization [3][7] Company Developments - The Wuhan Innovation Center is Garrett's second innovation hub in China, complementing the Shanghai R&D Center to create a "dual innovation engine" [2][5] - The center focuses on high-speed E-Powertrain systems for zero-emission applications, supporting both automotive and industrial decarbonization efforts [5][9] Technological Advancements - Garrett has a history of innovation in mobility technologies, including variable geometry turbines and hydrogen fuel cell compressors, with a strong emphasis on zero-emission solutions [4][6] - The E-Powertrain system integrates an electric motor, inverter, and gearbox, reducing system size and weight by up to 40% and cutting the use of critical materials by approximately 30% [8] Strategic Importance - The Wuhan Innovation Center embodies Garrett's "East for East" strategy, integrating R&D and manufacturing capabilities to accelerate the commercialization of zero-emission technologies [10] - The center aims to attract cross-disciplinary talent and foster partnerships with academic institutions and industry players to drive innovation [10]

Core Insights - Hexagon Purus faced significant challenges in Q1 2025, with a 44% decline in quarterly revenue to NOK 230 million compared to the same quarter last year, primarily due to lower activity in hydrogen infrastructure and heavy-duty mobility applications [1][2] - The company is implementing cost-reduction measures to achieve profitability at lower volumes and extend its cash runway towards EBITDA and cash flow break-even [1][19] Financial Performance - Total operating expenses for Q1 2025 were NOK 472 million, leading to an EBITDA of NOK -242 million, reflecting an EBITDA margin of -105% [3][8] - Restructuring costs and other non-recurring items accounted for approximately NOK 65 million in the quarter, with adjusted EBITDA at NOK -177 million, equivalent to a -77% margin [3][8] - Total assets decreased to NOK 4,503 million, with total equity at NOK 1,676 million, resulting in an equity ratio of 37% [4][6] Inventory and Cash Flow - Inventory increased to NOK 658 million, primarily consisting of raw materials and work-in-progress items, while trade receivables decreased to NOK 275 million [5] - Net cash flow from operating activities was NOK -183 million, with a release of working capital amounting to NOK 45 million driven by reductions in inventory and accounts receivables [7] Segment Performance - Hydrogen Mobility and Infrastructure (HMI) segment revenue was NOK 204 million, down 47% year-over-year, with an EBITDA of NOK -143 million and a margin of -70% [11][12] - Battery Systems and Vehicle Integration (BVI) segment revenue grew by 35% year-over-year to NOK 25 million, with an EBITDA of NOK -54 million [14][15] Outlook and Strategic Initiatives - The company anticipates continued uncertainty due to recent changes in US policy and international trade, impacting the near-term outlook [16] - Despite challenges, there is strong commercial momentum for hydrogen transit buses in Europe, and incoming order activity for hydrogen infrastructure has improved [17] - The company is focused on cost reduction and reviewing its business portfolio to ensure sustainability until it reaches EBITDA and cash break-even [19]

Core Insights - Garrett Motion Inc. is showcasing its latest innovations at Auto Shanghai 2025, including the debut of its 3-in-1 E-Powertrain and E-Cooling Compressor, which are pivotal for zero-emission mobility [1][4][10] Group 1: Technology Innovations - The 3-in-1 E-Powertrain integrates a high-speed electric motor, inverter, and reducer, achieving a size and weight reduction of up to 40% compared to industry standards [6] - The E-Cooling Compressor utilizes high-speed centrifugal technology for enhanced battery and cabin cooling, essential for the efficient operation of electric vehicles [6] - Garrett's Fuel Cell Compressor portfolio is the broadest and most mature in the industry, offering best-in-class efficiency and reliability [7] Group 2: Market Trends and Demand - Global production of new energy vehicles (NEVs) reached 18 million units in 2024, with China leading in adoption, driving demand for lightweight and efficient electric platforms [4] - By 2030, the market share of Plug-in Hybrid Electric Vehicles (PHEVs) and Range-Extended Electric Vehicles (REEVs) in China is expected to approach that of Battery Electric Vehicles (BEVs) [10] - In 2024, 75% of China's vehicle exports were powered by internal combustion engines (ICE), indicating continued relevance of ICE technologies alongside electrification [9] Group 3: Company Overview and Strategy - Garrett Motion has a 70-year history in automotive innovation, focusing on turbocharging technologies that reduce engine size, fuel consumption, and CO2 emissions [13] - The company operates five R&D centers and 13 manufacturing facilities globally, employing over 9,000 people [13] - Garrett is committed to advancing motion through differentiated technology solutions for zero-emission vehicles, including electric propulsion and thermal management systems [13]