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CUMMINS INC.

(CMI)
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Cummins Inc. Enters into an Agreement with Sion Power Corporation to Develop Lithium Metal Technology

11/30/2021 | 07:30am EST

Cummins Inc. has entered into an agreement with Sion Power Corporation. In connection with the agreement, Cummins has made an investment in Sion Power. The investment provides Cummins a minority stake in Sion Power, allows Sion Power to further develop their lithium metal technology for the commercial vehicle market, and positions both companies for success in the future commercialization of the technology. Under the agreement, Sion Power will engage in a multi-year development program to design and supply large-format lithium metal battery cells for use in Cummins battery packs. The batteries developed by Cummins will be integrated in its electric powertrains for commercial vehicles. Sion Power?s high-energy battery chemistry is an important component of Cummins? roadmap to electrify the company?s commercial vehicle products. Based on Sion Power?s proprietary lithium-metal anode technology and incorporating its patented manufacturing process, the cell provides a robust, long-lasting rechargeable battery for Cummins? demanding applications.


ę S&P Capital IQ 2021
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Financials (USD)
Sales 2021 23 965 M - -
Net income 2021 2 196 M - -
Net Debt 2021 762 M - -
P/E ratio 2021 14,8x
Yield 2021 2,50%
Capitalization 31 948 M 31 948 M -
EV / Sales 2021 1,36x
EV / Sales 2022 1,25x
Nbr of Employees 57 825
Free-Float -
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Mean consensus OUTPERFORM
Number of Analysts 25
Last Close Price 223,36 $
Average target price 274,09 $
Spread / Average Target 22,7%
EPS Revisions
Managers and Directors
Norman Thomas Linebarger Chairman & Chief Executive Officer
Jennifer W. Rumsey President & Chief Operating Officer
Mark Andrew Smith Chief Financial Officer & Vice President
Jim Fier Chief Technical Officer & Vice President
Wayne A. Eckerle Vice President-Research & Technology
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