Cummins Acquires Electric Powertrain Supplier Efficient Drivetrains
Cummins is expanding its competence in electrification through another acquisition of electric and hybrid powertrain supplier Efficient Drivetrains.
There are no details on the deal, as the closing of the acquisition is expected during the third quarter.
Silicon Valley-based EDI was most known for providing powertrains for all-electric and plug-in hybrid buses and trucks and that’s what Cummins would like to do in the future.
Earlier Cummins acquired also UK-based Johnson Matthey Battery Systems and North America-based Brammo.
“Cummins began developing its electrification capabilities more than a decade ago. During the past nine months, it accelerated investment in this business when it undertook strategic efforts to build capabilities across the entire range of electric storage, as evidenced by the acquisitions of UK-based Johnson Matthey Battery Systems and North America-based Brammo. Upon the addition of its fully-electric and unique four-mode hybrid powertrains, EDI will broaden Cummins’ electrification expertise and products. EDI’s hybrid system is the most versatile on the market today, able to switch, in real time, between fully electric, series and parallel modes.”
“Based in the Silicon Valley in California, EDI’s portfolio of hybrid-electric drivetrain systems, the EDI PowerDrive™ series, have traveled more than six million miles in a fleet setting in the United States and China. EDI’s products and diverse customer base will provide a springboard for Cummins into electrified markets, enabling the company a more immediate ability to grow market share.”
Tom Linebarger, Chairman and CEO, Cummins Inc said:
“As power needs and technologies continue to evolve, Cummins remains committed to innovations that will deliver the right power solutions for the right applications at the right time to help our customers’ succeed. This acquisition will combine EDI’s talented workforce and electrification capabilities with Cummins’ expertise in developing and manufacturing the technologies that power the world.”
Joerg Ferchau, EDI’s Chairman and Chief Executive Officer said:
“As the industry continues to evolve and OEMs move to include hybrid and electric technologies in their vehicle offerings, the combination of Cummins and EDI represents a tremendous opportunity for growth and category leadership. EDI’s advanced portfolio of plug-in-hybrid and full electric technologies paired with Cummins’ industry leadership and focus on innovation will allow us to deliver best-in-class products, service and support worldwide. Vehicle OEMs and fleets evaluating new electric and hybrid technologies prefer to work with well-established companies that have the depth and resources to provide the support that’s needed to scale into high volume mass production. Together, we can lead the electrification category, and provide exciting new options that the market will embrace.”