The Indiana-based manufacturer agreed late last year to pay $2 billion to settle allegations that it unlawfully altered hundreds of thousands of Ram pickup truck engines in violation of Clean Air Act emission standards.
Cummins agrees to pay nearly $1.7B to settle federal Clean Air Act investigation
Cummins has reached an agreement with the U.S. Department of Justice and will pay $1.675 billion—the largest Clean Air Act settlement in history—to resolve allegations that the company violated the Clean Air Act by installing “defeat devices” in some of its pickup truck engines.Read More
Cummins forms joint venture to build multibillion-dollar battery plant
The joint venture will initially focus on the production of lithium-iron-phosphate batteries for commercial battery-electric trucks.Read More
Cummins CEO Jennifer Rumsey to become company’s board chair
Rumsey will take over as Cummins board chair on Aug. 1, after former CEO Tom Linebarger steps down from the position.Read More
The joint venture, which includes Cummins and three other companies, was formed last year for the purpose of building a battery plant for commercial vehicles.
The repair only involves software updates. Cummins has already started the recall and repair program required by the settlement.
Cummins focuses on both hydrogen-powered and battery electric products through its zero-emissions business unit, which does business as Accelera by Cummins. But hydrogen is emerging as the breakout star for the company.
The group hopes to improve civic education in a state that ranks among the bottom nationally when it comes to voter registration and turnout.
Cummins plans to acquire two manufacturing sites, one in its hometown of Columbus, Indiana, from France-based Faurecia.
Cummins is forecasting revenue to be up 15% to 20% year-over-year, compared with its previous guidance of between 12% to 17%.
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 rebranding is an attempt to differentiate what until now had been known as Cummins’ New Power business unit, giving it a separate identity from the rest of the 104-year-old company, which has traditionally been known for its diesel engines.
Spinoff Atmus Filtration Technologies was originally founded in 1958 as the Seymour Filtration Co., based in Seymour, Indiana, with a single filter production line to support Cummins diesel engines.
The program aims to award $7 billion to fund six to 10 hydrogen hub projects focused on the production, processing, delivery, storage and end use of clean hydrogen, with the goal of boosting the nation’s hydrogen economy.
The Indiana coalition, which received U.S. Department of Energy encouragement to submit a full proposal, is now deciding whether to join forces with other applicants for a better chance of securing a portion of $7 billion in federal funding.
The program in the engine maker’s global Technical Education for Communities initiative will be geared primarily for juniors and seniors at Arsenal Tech High School in Indianapolis.
Meritor, which had 9,600 global employees pre-acquisition, is a leader in electric axle and brake technology.
A former IndyGo bus could start a second life by the end of the year—distributing fresh food, providing nutrition education and troubleshooting problems Indianapolis residents have applying for food stamps.
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.
Despite negative impacts, Indiana’s largest employers didn’t weigh in publicly on the state’s new abortion law while it was being debated.