Cummins initially established partnerships with third parties like TM4 for electric motors, and then acquired the assets of Brammo to bring energy storage technology in house (both mobile and stationary).
At one point, Brammo was producing electric motorcycles and battery packs.
Then later, the motorcycle business was acquired by Polaris, while the battery business remained independent (although still related to Polaris as the main customer we believe).
The acquisition is to be completed by the end of 2017.
“Adding Brammo’s battery pack expertise and resources is an important milestone in Cummins’ efforts to become a global electrified power leader.”
“Operations from this acquisition will report under Cummins’ recently formed Electrification Business led by Julie Furber, Executive Director of Electrification at Cummins, and will continue to be based in Talent, Oregon. Founded in 2002, Brammo has made great strides in developing electric energy storage technology for mobile and stationary applications.”
“This acquisition adds to Cummins’ unmatched portfolio of solutions and provides an entry point into new markets. In August, Cummins revealed a fully electric heavy duty demonstration Urban Hauler Tractor.
This acquisition is subject to customary closing conditions and is expected to close by the end of this calendar year.”
Tom Linebarger, Chairman and CEO, Cummins Inc said:
“To be a leading provider of electrified power systems just as we are with diesel and natural gas driven powertrains, we must own key elements and subsystems of the electrification network. 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. As always, when markets are ready, Cummins will bring our customers the right power solution at the right time to power their success.”
Craig Bramscher, Chairman and CEO of Brammo said:
“Brammo’s expertise across a broad range of applications uniquely positions us to enhance Cummins’ efforts to be a leader in the electrified power space. We see this as a very exciting opportunity to continue changing the way the world moves and stores power.”