Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

CUMMINS INC.

(CMI)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Cummins Invests in Sion Power to Develop Lithium Metal Technology

11/30/2021 | 07:31am EST

Cummins Inc. (NYSE: CMI) has entered into an agreement with Sion Power Corporation, a leading developer of high-energy rechargeable battery technology, to design and supply battery cells based on their proprietary lithium metal technology for commercial vehicle applications. 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.

“Our customers rely on Cummins to provide the most robust electric powertrains in the world,” said Amy Davis, vice president at Cummins and president of the company’s New Power segment. “We need battery technologies that will meet the performance and cost expectations for tough, commercial vehicle duty cycles.”

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.

“Sion Power’s Licerion® is an enabling technology for Cummins’ future electric commercial vehicle offerings,” said Tracy Kelley, chief executive officer at Sion Power. “Cummins is an ideal partner for Sion Power to enable this next generation of electric mobility and significantly support the decarbonization of the transportation industry. Together this strategic relationship sets us on a path to deliver the future of batteries.”

About Cummins Inc.

Cummins Inc., a global power leader, is a corporation of complementary business segments that design, manufacture, distribute and service a broad portfolio of power solutions. The company’s products range from diesel, natural gas, electric and hybrid powertrains and powertrain-related components including filtration, aftertreatment, turbochargers, fuel systems, controls systems, air handling systems, automated transmissions, electric power generation systems, batteries, electrified power systems, hydrogen generation and fuel cell products. Headquartered in Columbus, Indiana (U.S.), since its founding in 1919, Cummins employs approximately 57,800 people committed to powering a more prosperous world through three global corporate responsibility priorities critical to healthy communities: education, environment and equality of opportunity. Cummins serves its customers online, through a network of company-owned and independent distributor locations, and through thousands of dealer locations worldwide and earned about $1.8 billion on sales of $19.8 billion in 2020. Learn more at cummins.com.

About Sion Power

Sion Power advances the rechargeable battery industry with its Licerion® technology. Licerion® is an advanced approach to lithium-metal batteries containing twice the energy in the same size and weight battery, compared to a traditional lithium-ion battery. At up to 500 Wh/kg, Licerion batteries are produced at scale in large-format cells. As a result, Licerion® batteries have the potential to significantly enhance the performance of commercial and consumer electric vehicles. Visit Sion Power on the web at www.sionpower.com or follow on LinkedIn.


ę Business Wire 2021
All news about CUMMINS INC.
01/20Cummins inc. - names jeff wiltrout vice president corporate strategy
AQ
01/20Cummins, Isuzu to Work on Prototype Medium-Duty Battery Electric Truck
DJ
01/20Cummins, Isuzu Motors to Work Together to Create Prototype Electric Truck in North Amer..
MT
01/20Isuzu and Cummins Announce Battery Electric Truck Collaboration
BU
01/19Cummins Inc. Names Jeff Wiltrout Vice President – Corporate Strategy
BU
01/19Cummins Completes 50 Percent Acquisition of Momentum Fuel Technologies from Rush Enterp..
AQ
01/18Morgan Stanley Adjusts Cummins Price Target to $249 From $251, Maintains Equalweight Ra..
MT
01/18Cummins Acquires 50% Stake in Momentum Fuel Technologies; JV to Focus on Natural Gas Po..
MT
01/18Cummins Completes 50 Percent Acquisition of Momentum Fuel Technologies From Rush Enterp..
BU
01/14Enbridge Gas announces the launch of the first-of-its-kind hydrogen-blending project in..
AQ
More news
Analyst Recommendations on CUMMINS INC.
More recommendations
Financials (USD)
Sales 2021 23 965 M - -
Net income 2021 2 196 M - -
Net Debt 2021 762 M - -
P/E ratio 2021 15,0x
Yield 2021 2,46%
Capitalization 32 428 M 32 428 M -
EV / Sales 2021 1,38x
EV / Sales 2022 1,26x
Nbr of Employees 57 825
Free-Float 64,1%
Chart CUMMINS INC.
Duration : Period :
Cummins Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends CUMMINS INC.
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Last Close Price 226,72 $
Average target price 274,09 $
Spread / Average Target 20,9%
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
Sector and Competitors
1st jan.Capi. (M$)
CUMMINS INC.5.94%32 428
RHEINMETALL AG13.34%4 611
TOYOTA BOSHOKU CORPORATION-2.57%3 605
CUMMINS INDIA LIMITED0.61%3 536
WEIFU HIGH-TECHNOLOGY GROUP CO., LTD.4.43%3 325
DORMAN PRODUCTS, INC.-11.37%3 060