Cummins Inc
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Industrials : Machinery | Mid Cap Value
Company profile

Cummins Inc. designs, manufactures, distributes and services diesel and natural gas, electric and hybrid powertrains and powertrain-related components. It is also a supplier of engine braking, cylinder deactivation, start and stop and thermal management technologies. Engine segment manufactures and markets a range of diesel and natural gas-powered engines under the Cummins brand name, as well as certain customer brand names, for the heavy and medium-duty truck. The Distribution segment consists of sales and support of a range of products and services, including power generation systems, high-horsepower engines, and heavy-duty and medium-duty engines. The Components segment supplies products, including aftertreatment systems, turbochargers, filtration products, electronics and fuel systems. The Power Systems segment consists of businesses, including Power generation, Industrial and Generator technologies. The New Power segment designs, manufactures, sells, supports hydrogen production.

Closing Price
$195.02
Day's Change
9.13 (4.91%)
Bid
--
Ask
--
B/A Size
--
Day's High
195.10
Day's Low
187.93
Volume
(Average)
Volume:
1,130,490

10-day average volume:
1,044,769
1,130,490

Daimler Truck North America and Cummins Collaborate to Drive Hydrogen Fuel Cell Trucks Forward in North America

12:14 pm ET May 11, 2022 (BusinessWire) Print

Cummins Inc. (NYSE: CMI), a global power and hydrogen technologies leader, and Daimler Truck North America (DTNA), the largest heavy-duty truck manufacturer in North America, are collaborating to upfit and validate Freightliner Cascadia trucks with a Cummins hydrogen fuel cell powertrain for use in North America. Freightliner will leverage Cummins' fourth generation fuel cell powertrain, which provides improved power density, efficiency and durability.

The joint effort will support both organizations' goals to reduce emissions across product offerings and operations. Upon successful validation, the companies intend to have initial units available in 2024 for selected customers.

"Cummins and Daimler Truck have a strong history of partnership, and this next step into fuel cell electric vehicles is an exciting development for zero-emissions transport," said Amy Davis, Vice President and President of New Power at Cummins. "Hydrogen fuel cells are a promising solution for the demanding requirements of heavy-duty trucking. Our collaboration in this market is an important milestone for both companies as we work to accelerate the shift to a carbon-free economy."

"CO2-neutral commercial transportation must not only be technically feasible, but also economically viable for our valued customers," said Rakesh Aneja, Vice President and Chief of eMobility at DTNA. "Depending on the customer application and energy infrastructure considerations, hydrogen-powered vehicles can absolutely complement battery-powered electric vehicles in accelerating our carbon-neutral journey. We are pleased to expand our partnership with Cummins to include hydrogen-powered fuel cell electric vehicles in our future portfolio. We remain focused on serving our customers by providing them with a choice of propulsion-technologies, ultimately resulting in solutions that best suit their business needs."

About Cummins Inc.

Cummins Inc., a global power leader, is a corporation of complementary business segments that design, manufacture, distribute and service a broad portfolio of power solutions. The company's products range from internal combustion, electric and hybrid integrated power solutions and components including filtration, aftertreatment, turbochargers, fuel systems, controls systems, air handling systems, automated transmissions, electric power generation systems, microgrid controls, batteries, electrolyzers and fuel cell products. Headquartered in Columbus, Indiana (U.S.), since its founding in 1919, Cummins employs approximately 59,900 people committed to powering a more prosperous world through three global corporate responsibility priorities critical to healthy communities: education, environment and equality of opportunity. Cummins serves its customers online, through a network of company-owned and independent distributor locations, and through thousands of dealer locations worldwide and earned about $2.1 billion on sales of $24 billion in 2021. Learn more at cummins.com.

About Daimler Truck North America

Daimler Truck North America LLC, headquartered in Portland, Oregon, is a leading provider of comprehensive products and technologies for the commercial transportation industry. Daimler Truck North America designs, engineers, manufactures and markets medium- and heavy-duty trucks, school buses, vehicle chassis and their associated technologies and components under the Freightliner, Western Star, Thomas Built Buses, Freightliner Custom Chassis Corp, and Detroit brands. Daimler Truck North America is a subsidiary of Daimler Truck Holding AG (DTG), one of the world's leading commercial vehicle manufacturers.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220511005871/en/

SOURCE: Cummins Inc.

Cummins Media Contact: 
Jon Mills
Cummins Inc.
jon.mills@cummins.com 
317-658-4540

Daimler Truck Media Contact: 
Anja Weinert
Daimler Truck North America
Anja.weinert@daimlertruck.com 
669-600-1478
comtex tracking

COMTEX_407041767/1006/2022-05-11T12:14:00

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