SHANGHAI, April 16, 2015 /PRNewswire/ -- Honeywell (NYSE: HON) Transportation Systems is coming to Auto Shanghai 2015 with a consumer-friendly message - turbochargers are a proven game-changing technology that helps enable more environmentally friendly, fuel efficient vehicles that are still fun to- drive.
Honeywell, a global leader in automotive turbocharger technologies, will display its latest solutions for passenger vehicles at the National Exhibition and Convention Center in Shanghai from April 22 -29. At Honeywell's booth, customers can learn about the benefits and rapid auto market adoption of turbocharger technology that is helping China address its continued urban expansion and need for improving air quality throughout the country.
Honeywell turbochargers allow automakers to use smaller more fuel efficient engines while maintaining big engine performance. The resulting engines can be 20 to 40 percent more fuel efficient than the larger naturally-aspirated engines they replace. By using less fuel, the smaller turbocharged engines produce fewer harmful emissions, while enhancing horsepower and acceleration for improved drivability. These attributes have made the technology an attractive choice for manufacturers aiming to deliver high performance vehicles to Chinese consumers while meeting more stringent 2020 fuel economy standards requiring passenger cars to reach an average fuel consumption of 5.0 liters/100 km (47 mpg).
"We are honored to locally produce our turbo technology to help automakers in China meet more stringent fuel and emissions standards, and are looking forward to announcing new offerings at the Shanghai show," said Terrence Hahn, President and CEO of Honeywell Transportation Systems who will also be attending Auto Shanghai. "Honeywell turbochargers are an optimal solution for Chinese consumers. Turbocharger technology provide the best of both worlds - a great performing vehicle with fuel saving opportunities, helping to create an environmentally-friendly footprint."
Consumers in China are buying second vehicles for commuting and larger SUVs as family vehicles.* Given these trends, consumers are also expressing an overwhelming desire for greater fuel efficiency (80 percent) and a desire to downsize to a smaller vehicle footprint if able to maintain big engine performance (68 percent), according to a Honeywell survey of more than 3000 drivers with more than three years' driving experience, conducted in June 2014.
Honeywell Transportation Systems will be displaying its automotive solutions and conducting demos, tours and contests at Hall 5.2 booth #5B-C505 during Auto Shanghai. More information and details can be found at http://honeywell.com.
About Honeywell
Honeywell Aerospace products and services are found on virtually every commercial, defense and space aircraft, and its turbochargers are used by nearly every automaker and truck manufacturer around the world. The Aerospace business unit develops innovative solutions for more fuel efficient automobiles and airplanes, more direct and on-time flights, safer flying and runway traffic, along with aircraft engines, cockpit and cabin electronics, wireless connectivity services, logistics and more. The business delivers safer, faster, and more efficient and comfortable transportation-related experiences worldwide. For more information, visit www.honeywell.com or follow us at @Honeywell_Aero and @Honeywell_Turbo.
Honeywell has a long history in China that goes back to 1935 when it established the first franchise in Shanghai. Today, all of Honeywell's four Strategic Business Groups are represented in China, and all of them have relocated their Asia Pacific headquarters to China. Over the years, Honeywell has set up subsidiaries and joint ventures in more than 20 cities across the country. Honeywell employs approximately 12,000 people in China. For more news and information on Honeywell in China, please visit www.honeywell.com.cn.
Honeywell (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; turbochargers; and performance materials. For more news and information on Honeywell, please visit www.honeywellnow.com.
* "Overall, we expect SUV sales to triple in the next 10 years … The premium small car segment … will reach 8 percent of the total A model segment in 2020." McKinsey, 2013
Survey Methodology
This survey was designed by global leading market research firm IpSos, and was conducted online within China by Gasgoo Institute and Honeywell from April 11 to April 16, 2014 among 3,372 respondents who are car owners from different age groups. The majority of respondents have 3 yr+ driving experience. This online survey is conducted on popular websites in China, therefore the sampling method is a random sample and the estimate of theoretical sampling error is at a very low level of 1.7%.
This release contains certain statements that may be deemed "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.
