Cummins Acquires Battery Tech Platform
(Image courtesy of Cummins Inc.)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowColumbus-based Cummins Inc. (NYSE: CMI) is acquiring the assets of Brammo Inc. in Oregon. Cummins says adding the energy storage technology platform plays into its ongoing strategy to become a global electrified power leader.
Brammo designs and develops battery packs for mobile and stationary applications.
"By adding the expertise of Brammo and its employees to Cummins, we are taking a step forward in our electrification business and differentiating ourselves from our competition," says Cummins Chief Executive Officer Tom Linebarger. "As always, when markets are ready, Cummins will bring our customers the right power solution at the right time to power their success."
Cummins Executive Director of Electrification at Cummins Julie Furber will oversee operations from the acquisition. The companies expect the deal to close by the end of the year.
The acquisition marks the latest move into electrified technology for Cummins. Last week, the company announced a partnership with California-based heavy-duty transit bus manufacturer GILLIC LLC, which will focus on the integration of its new battery electric technology to power zero-emission buses.