COLUMBUS, Ind. — Cummins Inc. said Wednesday that it has completed the acquisition of Siemens’ commercial vehicles business through its subsidiary Meritor.
In May, Meritor Inc. announced that it had agreed to acquire the business, the company said in a press release at the time. Cummins later completed its acquisition of Meritor in August.
Siemens Commercial Vehicles develops, designs and produces high-performance electric drive systems. Product offerings include direct drive and transmission-based remote mount electric motors, inverters, software and related services which Cummins expects to be critical elements in the next generation of electric powertrains.
Siemens Commercial Vehicles employs 200 people in Germany, China and the United States. Siemens Commercial Vehicles’ former CEO will assume the role of vice president of traction systems in Cummins’ New Power business segment, Cummins said.
“We are excited to welcome Siemens’ Commercial Vehicles electric drive systems business into Cummins,” said Cummins President and Chief Executive Officer Jennifer Rumsey in a statement. “By combining our collective, deep knowledge of our industry and how our customers use our applications, we will innovate and advance key technologies. This acquisition also reflects another key milestone in the execution of our strategy to reach net-zero emissions by 2050 in a way that is best for our customers and the planet.”