
Cummins announces $153M plant acquisition from Faurecia
Cummins plans to acquire two manufacturing sites, one in its hometown of Columbus, Indiana, from France-based Faurecia.
Cummins plans to acquire two manufacturing sites, one in its hometown of Columbus, Indiana, from France-based Faurecia.
In June, Slovakian startup InoBat announced it was partnering with New York City-based Ideanomics to build the research, development and manufacturing facility. But Ideanomics now says it’s not sure it will be in business in a year.
The quasi-government entity has secured roughly 9,000 acres of land in Boone County for its LEAP Lebanon Innovation and Research District.
Cummins brought in $176 million—a tiny fraction of its overall revenue—from its electric and hydrogen products last year. But the company expects revenue to hit as much as $13 billion in 2030.
The residents say the city of Lebanon failed to follow state zoning law when it annexed 5,200 acres of land for the planned LEAP district in Boone County.
The Indiana Department of Transportation released a study that includes five possible locations for the interchange northwest of Lebanon near the planned site of the LEAP Lebanon Innovation and Research District.
The Lebanon City Council voted unanimously to approve the second phase of voluntary annexation for the LEAP district, a planned 11,000-acre advanced manufacturing park in Boone County.
More than half of Indiana manufacturers have implemented or are testing at least one advanced technology, according to a new report from Conexus Indiana and the Indiana University Kelley School of Business at IUPUI.
The Indiana Economic Development Corp. and 43 Boone County landowners are asking the city of Lebanon to annex the land for a massive research and innovation park.
City leaders expect a stretch of undeveloped agricultural land on the city’s southeast side to become Hamilton County’s next epicenter of innovation.
Cummins said its profitability was affected by several expenses last quarter, the largest of which was the $56 million that the company spent on a one-time bonus to employees.
The company has recently begun testing its first products with customers and is working to ramp up production in coming months.
On average, recipients of the state’s Manufacturing Readiness Grants added five new jobs as a result of the technology investments.
A joint venture between General Motors Co. and LG Energy Solution has filed a tax abatement application for a facility in New Carlisle that—based on similar projects elsewhere—could bring more than $2 billion in investment and more than 1,000 jobs to northern Indiana.
The Columbus-based manufacturer says its strong second-quarter was due mostly to its North American market, where revenues grew 15%.
Cummins is investing in VoltStorage, a Munich, Germany-based company that develops and produces batteries based on redox flow technology, a more environmentally friendly alternative to lithium-ion batteries.
The effort involves manufacturers around the state capturing data about their energy use, then sharing that information to create a “data lake” which businesses and researchers can access.
InoBat Auto, a Slovakian company that launched in 2019, said Thursday that it plans to open battery R&D and production sites in Indiana, in partnership with New York City-based Ideanomics Inc.
Podcast host Mason King talks with Ananth Iyer, a professor of management at Purdue’s Krannert School of Management, who is part of a group studying the potential disruption in the auto industry and how Indiana manufacturers can adapt.
The state’s five automotive assembly plants, and the suppliers who serve them, produce 1.3 million cars and trucks per year, employing just more than 110,000 workers. But the vast majority of that work focuses on gas-powered vehicles.