Published by Todd Bush on December 1, 2022
COLUMBUS, Ind. & NUREMBERG, Germany--(BUSINESS WIRE)--Global power and technology leader, Cummins Inc. (NYSE: CMI) today announced that it, through its subsidiary Meritor, has completed its acquisition of Siemens’ Commercial Vehicles business, a leading global supplier of high-performance electric drive systems for commercial vehicles. In May 2022, Meritor, Inc. announced it had entered into an agreement to acquire the business for approximately €190 million enterprise value; 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 the next generation of 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 global customers a wider array of electrified product solutions across commercial vehicle applications.
“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.
>> In Company Spotlight: Cummins Inc
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 🌎 Chevron Doubles Down on Carbon Capture with Massive Bayou Bend Hub 🌱 Manitoba Startup Pitches $5 Million Biochar Processing Plant to Ritchot Municipality 🏭 MATHESON to Build Ne...
Inside This Issue 🌎 History Made: Deep Sky Alpha Begins Operations with North America's First CO2 Storage via Direct Air Capture 🏅 Neste Achieved Platinum Medal in EcoVadis Sustainability Assessme...
Inside This Issue 🌱 Why Gevo's Live BECCS Project Changes Everything 🛢️ Alternative Carbon Carrier Technology Could Improve Both Oil Production and Carbon Storage 🌊 Hyundai Engineering & Const...
MATHESON to Build New Air Separation Plant in Las Vegas, Nevada, USA
BOULDER, Colo.--(BUSINESS WIRE)--Today, ION Clean Energy (ION), a leading provider of innovative post-combustion carbon capture solutions, announced a new offering called ICE Blocks™. These standar...
Manitoba Startup Pitches $5 Million Biochar Processing Plant to Ritchot Municipality
A pioneering waste management solution could soon transform how one Manitoba community handles organic waste. This week, Carbon Lock Tech, an innovative local startup, presented an ambitious propos...
What US Clean Energy Tax Credit Types Are Available in 2025?
In 2022, the Inflation Reduction Act (IRA) paved the way to grow clean energy investments in the US by extending and adding new types of tax credits. Its largest innovation, transferability, allow...
Marine Carbon Dioxide Removal Coalition Launches, Creates Forum to Responsibly Grow the Field
The coalition unites marine carbon removal companies, nonprofits, and academics to advance research and the responsible development of the sector WASHINGTON, Aug. 21, 2025 /PRNewswire/ -- The Mari...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.