COLUMBUS, Ind. — Cummins leaders met with analysts and shareholders Wednesday to share the company’s plans to generate profitable growth through leadership in the design, manufacture, and support of powertrain technology across a number of fuel types and power sources.
“The decarbonization of our economy is critical to our way of life and our industry will play a key role in that effort,” Tom Linebarger, Cummins Chairman and CEO, said at the meeting. “Fortunately, decarbonization is also a growth opportunity for Cummins. We are confident in our ability to play a leading role in bringing lower carbon technologies to commercial vehicle and industrial markets globally and to generate strong returns, due to the capabilities Cummins has built over many years.”
Executives said Cummins is uniquely positioned to lead in the transition to zero emissions and outgrow our markets, through our range of advanced combustion powertrains and zero carbon solutions.
“Our increasingly broad portfolio of technologies, enhanced by our recently announced plans to acquire Meritor and Jacobs Vehicle Systems, coupled with our industry leading scale and longstanding global relationships make us a compelling powertrain partner for OEMs wherever they operate,” said Jennifer Rumsey, Cummins President and Chief Operating Officer. Rumsey explained that the company is investing in differentiated technologies that will meet diverse customer needs and enable business growth as decarbonization occurs including market-leading, fuel agnostic engine platforms and key components for powertrain performance and emissions.
Jennifer Rumsey
The Republic file photo
Amy Davis, Vice President & President – New Power, detailed how the company is already preparing for a fully zero emissions future, with investments in a broad array of technologies from electrolyzers for green hydrogen production to mobility technologies such as battery electric and fuel cell electric systems.
“Our New Power business is positioned to capture significant growth both in our core markets, as they transition to zero carbon solutions, and in new spaces presented by the global hydrogen economy,” said Davis. “We will leverage the key capabilities Cummins brings such as deep customer relationships, application knowledge, and a vast sales and service network while also demonstrating the agility of a startup mindset. Through shorter development cycles, vehicle build capability, the infusion of outside talent, and operational autonomy, we will be able to enhance the value we can provide to all of our stakeholders.”
The broad range of clean diesel and lower carbon engine-based solutions and powertrain components in the base business, combined with the broad zero emissions technologies of the New Power business, ensure that Cummins will be well-positioned for growth regardless of the pace of adoption of zero emissions vehicles, while also working toward the company’s aspirational goal of zero carbon emissions by 2050, Cummins officials said.
For more on the projections, and more comments from Rumsey, see Thursday’s Republic.
