Hopsan is an open-source simulation package developed as a collaboration project between industry and academia. The simulation methodology is based on transmission line modelling, which provides several benefits such as linear model scalability, numerical robustness and parallel simulation. All sub-models are pre-compiled, so that no compilation is required prior to starting a simulation. Default component libraries are available for hydraulic, mechanic, pneumatic, electric and signal domains. Custom components can be written in C++ or generated from Modelica and Mathematica. Support for simulation-based optimization is provided using population-based, evolutionary or direct-search algorithms. Recent research has largely focused on co-simulation with other simulation tools. This is achieved either by using the Functional Mock-up Interface standard, or by tool-to-tool communications. This paper provides a description of the program and its features, the current status of the project, and an overview of recent and ongoing use cases from industry and academia.