Cummins completes acquisition of Siemens commercial vehicle business

Cummins, the pioneer of global multi-power technology, announced，Through its subsidiary Meritor（Meritor）Completion of acquisition of Siemens commercial Vehicle business，The business focuses on high-performance electric drive system solutions for commercial Vehicles.。In May this year，Meritor Announces Agreement，By about 1.Acquisition of the business with a market value of €900 million；Cummins subsequently completed the acquisition of Meritor in August this year.。

The acquisition expands Cummins' core technology capabilities，Including remote control motors based on direct drive and transmission、Inverter、Software and related services，Build a new generation of electric powertrain capability。At the same time，Operations are in Germany、Nearly 200 employees in China and the United States will also join Cummins.，Accelerate the building of capabilities，To provide more diversified solutions for commercial Vehicle electric products for global users。

“Welcome to Cummins from Siemens Commercial Vehicle Electric Drive Systems，”Rong Zhanning, President and CEO of Cummins（Jennifer Rumsey）Express，“Both of us have deep insight into the industry.，Be familiar with the needs of users and the application market，We will work together to innovate and drive key technology upgrades。This acquisition is also an important milestone in our zero-carbon strategy.，Strive to achieve net zero emissions by 2050。”

“We are excited to join Cummins.，Cummins has been deeply engaged in the commercial Vehicle market for many years，We will accelerate the development of zero-emission powertrain technology，Meet the needs of users，And promote the continuous progress of our communities.。”Former CEO of Siemens Commercial VehicleMart VerschoorExpress。Upon completion of the acquisition，He will serve as vice president of Cummins New Energy Power Division.，Responsible for traction system business。

The business will be merged into Cummins New Energy Power Division.。

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