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Cummins to make electric powertrains

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June 15, 2017June 15, 2017

Engine maker Cummins Inc plans to start production of electric powertrains for transit buses in cities around the world in 2019, executives said. Company executives said that more industrial and commercial uses will follow in the years to come, especially as the battery range for electric vehicles increases. Earlier, Power management company Eaton and autoparts maker Cummins has agreed to form a joint venture for automated transmissions for heavy-duty and medium-duty commercial vehicles. Under the terms of the agreement, Eaton will receive $600 million in cash from Cummins for 50 per cent interest in the joint venture. “Our growth strategy includes expanding our product offerings and extending our global footprint by becoming the world’s leading powertrain supplier,” said Tom Linebarger, Chairman and CEO, Cummins.

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Last updated: March 20, 2024
by and Alex Morrell is a senior correspondent at Business Insider covering Wall Street at large.

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