Cummins has announced it is acquiring Silicon Valley-based Efficient Drivetrains Inc., which designs and produces hybrid and fully-electric power solutions for commercial markets.
“As power needs and technologies continue to evolve, Cummins remains committed to innovations that will deliver the right power solutions for the right applications at the right time to help our customers succeed,” said Tom Linebarger, company chairman and CEO.
Cummins began developing its electrification capabilities more than a decade ago, the company said.
During the past nine months, the company accelerated its investment in this business when it built capabilities across the entire range of electric storage. Cummins acquired UK-based Johnson Matthey Battery Systems and North America-based Brammo.
Adding Efficient Drivetrains Inc. (EDI) will broaden Cummins’ electrification expertise and products, the company said in a news release. EDI’s hybrid system is the most versatile on the market, according to Cummins, able to switch in real time between fully electric, series and parallel modes.
Vehicle original equipment manufacturers and fleets evaluating new electric and hybrid technologies prefer to work with well-established companies that have the depth and resources to provide the support that’s needed to scale into high volume mass production, said Joerg Ferchau, EDI’s chairman and CEO.
“Together (with Cummins) we can lead the electrification category and provide exciting new options that the market will embrace,” Ferchau said.
EDI’s portfolio of hybrid-electric drivetrain systems, the EDI PowerDrive services, have traveled more than 6 million miles in fleet setting in the United States and China.
Closing for the acquisition of EDI is expected in the third quarter, Cummins officials said.
