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CUMMINS INC.

(CMI)
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Cummins : and Isuzu announce global mid-range powertrain and advanced engineering collaboration

02/08/2021 | 10:13am EDT

Columbus, Indiana - Today, Cummins Inc. (NYSE: CMI) and Isuzu Motors Limited (Isuzu) announced agreements for a global mid-range diesel powertrain and an advanced engineering collaboration, marking another step forward in the Isuzu Cummins Powertrain Partnership (ICPP). The partnership, formed in May 2019, formalized a business structure for the two companies to evaluate and carry out opportunities to jointly develop and bring new diesel and alternate powertrains to global markets.

'We are pleased to take another step forward in the partnership by powering Isuzu vehicles with Cummins engines in global markets,' said Tom Linebarger, Chairman and CEO, Cummins Inc.

'Our partnership is a terrific opportunity for both companies to harness our respective strengths and drive innovation in advanced diesel and other technology solutions.'

'Cummins and Isuzu have been working on our partnership based on strong trusts in each other. I am pleased to announce today our first step in this collaboration. We will accelerate holistic collaboration in joint research for advanced engineering capabilities and further developments in advanced diesel technologies to deliver optimum trucks and powertrains to customers all over the world,' said Masanori Katayama, President and Representative Director, Isuzu Motors Limited.

Under this global mid-range diesel collaboration agreement, Cummins will provide Isuzu mid-range B6.7 diesel platforms for use in medium-size trucks to meet global customer needs. Cummins and Isuzu will closely work together to integrate the engine with Isuzu's chassis and to meet Japan's emission regulations. Isuzu chassis powered by Cummins B6.7 diesel platform engines will be introduced in North America in 2021, and in Japan, Southeast Asia and other regions at a later date.

This collaboration will allow both companies to best serve end user needs across the globe while optimizing their respective investments in both diesel and emerging technologies. The engines for trucks built in Japan will be assembled at Isuzu's plant located in Tochigi, Japan.

Isuzu and Cummins also entered into an Advanced Technology Agreement, to conduct joint research for various powertrain technologies using the companies' respective advanced engineering capabilities. Both companies are committed to further enhance efficiency and emissions capability of their advanced diesel products. As part of the path to carbon neutral, Isuzu and Cummins have recently expanded the partnership discussions to include new power sources, including electrical powertrain technologies.

Cummins and Isuzu continue to innovate and advance the future power sources for commercial vehicles in terms of power, quality, reliability, emissions and fuel efficiency. Together, the companies believe there may be further opportunities to benefit from each other's unique strengths by harnessing each other's products and technology to drive global growth.

About Isuzu

Isuzu, is a leading global automobile company, based in Tokyo, Japan and is engaged in the design, development, manufacturing, sale and service of commercial vehicles, pick-up trucks, diesel and natural gas engines, parts and components. Isuzu products are sold in over 150 countries and regions worldwide. Its Japan's No.1 light-duty truck brand ELF holds top shares in many countries and acclaimed as the global standard in light-duty trucks. D-MAX pick-up truck has been manufactured and exported to approximately 120 countries from its production base in Thailand. More information can be found at www.isuzu.co.jp.

About Cummins Inc.

Cummins Inc. is a global technology company designing, manufacturing, distributing and servicing a broad portfolio of reliable, clean power solutions; including diesel, natural gas, hybrid, electric and other alternative solutions. Established in 1919 and headquartered in Columbus, Indiana (U.S.), Cummins serves customers in more than 190 countries and territories around the world. More information can be found at https://www.cummins.com/always-on.

(C) 2021 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
CUMMINS INC. 0.00% 240.71 Delayed Quote.5.99%
ISUZU MOTORS LIMITED -0.20% 1497 End-of-day quote.52.76%
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Financials (USD)
Sales 2021 24 156 M - -
Net income 2021 2 340 M - -
Net Debt 2021 1 105 M - -
P/E ratio 2021 15,1x
Yield 2021 2,33%
Capitalization 34 568 M 34 568 M -
EV / Sales 2021 1,48x
EV / Sales 2022 1,34x
Nbr of Employees 57 825
Free-Float 64,3%
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Number of Analysts 25
Last Close Price 240,71 $
Average target price 279,28 $
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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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