Welcome to our dedicated page for Cummins news (Ticker: CMI), a resource for investors and traders seeking the latest updates and insights on Cummins stock.
Cummins Inc. reports news on its global power technology business, including engines, components, distribution, power systems and Accelera by Cummins. Company updates commonly cover diesel, electric and hybrid powertrains, integrated power generation systems, aftertreatment, turbochargers, fuel systems, controls, transmissions, axles, brakes, battery and electric powertrain systems, and other zero-emissions technologies.
Recurring developments include quarterly operating results, segment performance, demand trends in truck markets and data center backup power, customer technology demonstrations, powertrain collaborations, emissions recall activity, dividend declarations and portfolio actions within Accelera.
Cummins Inc. (NYSE: CMI) plans to invest over $25 million at its Seymour Engine Plant to enhance manufacturing capabilities and create more than 150 jobs over the next 5-10 years. This investment follows over $350 million invested in the past decade, significantly expanding the workforce to 1,100 employees. The upgrades will facilitate the launch of a new engine platform for global customers in 2024, supported by tax incentives from the Indiana Economic Development Corporation.
Cummins Inc. (NYSE: CMI) and Bustech, Australia's leading transit bus supplier, have formed a partnership to develop the next-generation Bustech XDi low floor transit bus. This venture will utilize Cummins' zero-emission battery electric and hydrogen fuel cell technologies. Initial units will be produced for both systems, with production ramping up in late 2021 and early 2022. The battery electric powertrain boasts a range of up to 350 km, while the hydrogen variant offers 450-600 km, depending on storage options. Manufacturing will occur in the U.S., with final assembly in Australia.