Cummins closes Siemens CV deal 27 January 2023

This acquisition adds key capabilities in direct drive and transmission-based remote mount electric motors (By SFIO CRACHO)

Cummins, through its subsidiary Meritor, has completed its acquisition of Siemens’ commercial vehicles (CV) business as part of a deal valued approximately at €190 million.

Last May, Meritor entered into an agreement to acquire the business. Cummins subsequently completed its acquisition of Meritor in August 2022.

This acquisition adds key capabilities in direct drive and transmission-based remote mount electric motors, inverters, software and related services, which are critical elements in electric powertrains. These capabilities, and their addition of nearly 200 employees primarily in Germany, China and the United States, will accelerate Cummins’ ability to offer customers a wider range of electrified product solutions across CV applications.

Jennifer Rumsey, Cummins’ chief executive officer, said: “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.”

Author
Transport Engineer

Related Companies
Cummins
Meritor Heavy Vehicle Braking Systems
Siemens

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