INEOS Automotive plans to launch in Europe in 2022 for an all-terrain vehicle

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A logo is pictured at the headquarters of the chemical company INEOS during a press conference in Rolle, Switzerland on November 13, 2017. REUTERS / Denis Balibouse

LONDON, Sept. 29 (Reuters) – INEOS Automotive, a unit of chemicals and energy giant INEOS (INEOSG.UL), will launch a rugged all-terrain vehicle in Europe in 2022 and North America in 2023 for farmers and other predominantly rural uses, he said Wednesday,

The company initially plans to launch a utility version of the Grenadier for professional customers – which is expected to account for the majority of sales of the four-wheel drive vehicle – and a more comfortable passenger version.

The vehicle will also be launched in parts of Africa and the Middle East in 2022.

INEOS Automotive is also working on a pickup version of the Grenadier, which will be crucial for the North American market. In the US market, pickup trucks represent a large and highly profitable portion of total automotive industry sales.

The boxy Grenadier will have gasoline and diesel engines and powertrains built by BMW (BMWG.DE). Production of the vehicle will start at the end of 2021 at a former passenger car plant of Daimler AG (DAIGn.DE) in Hambach, north-eastern France, which INEOS Automotive acquired from the German automaker last year.

Gary Pearson, who leads INEOS Automotive’s UK, Middle East and North Africa markets, said the combustion engine technology the company uses is fit for the market today.

But with the ban on fossil fuel vehicles looming in Europe, the company is considering hydrogen fuel cell technology for future zero-emission versions of the Grenadier rather than going electric.

“As electrical technology evolves, it might be a good fit for us,” Pearson said. “But today in terms of range, weight of batteries … in a vehicle that needs to pull things, lift things, carry things, it is not necessarily good for us in this regard. moment.”

An agreement between parent company INEOS and Hyundai (005380.KS) to explore hydrogen production and supply opportunities includes evaluating the use of the South Korean automaker’s fuel cell system in Grenadier.

Reporting by Nick Carey Editing by Mark Potter

Our Standards: Thomson Reuters Trust Principles.


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