Honeywell will spin off its Transportation Systems business unit by the end of the third quarter of 2018, creating a standalone, publicly traded company.
The soon-to-be-independent entity, which currently specializes in turbocharger technologies, is expanding its tech portfolio to meet the requirements of vehicles with electrified powertrains – including eboosting solutions and high-performance electric compressors for hydrogen fuel cell vehicles.
The new company will be headed up by president and CEO Olivier Rabiller – who has led the Transportation Systems business since July 2016.
“Olivier is a highly effective leader who is well respected in the automotive industry and has played a key role in the sustained outperformance of his business within Honeywell,” explained Honeywell chairman and CEO Darius Adamcyzk.
“We are excited about what Transportation Systems will accomplish as an independent company under Olivier’s leadership.”
The new business is also working on software solutions to monitor vehicle performance and health, as well as developing cybersecurity solutions.