Cummins closes on acquisition of Siemen’s commercial vehicles business
December 02,2022
“We are excited to welcome Siemens’ Commercial Vehicles electric drive systems business into Cummins,” said Jennifer Rumsey, Cummins’ President and Chief Executive Officer. “By combining our collective, deep knowledge of our industry and how our customers use our applications, we will innovate and advance key technologies. This acquisition also reflects another key milestone in the execution of our strategy to reach net-zero emissions by 2050 in a way that is best for our customers and the planet.”
“We are thrilled to join Cummins which has a long history serving the commercial vehicle market,” said Mart Verschoor, former CEO of Siemens Commercial Vehicles who will assume the role as Vice President – Traction Systems within Cummins’ New Power segment. “I know we will deliver technologies required to accelerate adoption of zero-emission powertrains that delight our customers and move our communities forward.”
The acquired business will report through Cummins New Power business unit.
Source : www.chinaspv.com
Editor : Alice
Views:3477
Tags: Cummins acquisition Siemen