Cummins Power Electric acquires electric and hybrid powertrain supplier EDI

Cummins Inc. (NYSE: CMI) announced on July 3, 2018 the acquisition of Efficient Drivetrains (EDI), a global leader in commercial hybrid and pure electric assemblies. The acquisition of this Silicon Valley high-tech company underscores Cummins' commitment to becoming a global electric power leader.

“With the continuous development of power demand and technology, Cummins will continue to focus on technological innovation and provide leading power solutions in a timely manner to achieve our customers,” said Cummins Chairman and CEO Tom Linebarger. The acquisition will integrate EDI's outstanding talent and electrification capabilities, as well as Cummins Power Technology's R&D and manufacturing expertise to create more advanced power solutions."

EDI pure electric drive system

As early as more than a decade ago, Cummins has begun to develop its electrification capabilities. In the past nine months, the company has accelerated its investment in this business, acquiring Johnson Matthey's battery systems business and North American battery technology company Brammo to build comprehensive electric storage. ability. EDI's pure electric and its unique four-mode hybrid system will further expand Cummins' electric capabilities and product arrays. EDI's hybrid system is the most versatile power solution on the market today, allowing real-time switching between pure electric, serial and parallel modes.

“As the industry continues to evolve, OEMs are increasingly applying hybrid and electric technologies to their products. The combination of Cummins and EDI will bring tremendous market opportunities and category leadership.” EDI Chairman and Chief Executive Officer Officer Joerg Ferchau said, "EDI has advanced plug-in hybrid and pure electric technology products. Cummins is the global leader in power innovation. Our cooperation will provide the best products, services and support for customers all over the world. Whether it is commercial vehicles The main engine factory is also a big customer of the fleet. When choosing new electric or hybrid technology, it is more inclined to the old-fashioned enterprises, because these enterprises have rich industry experience and resources to achieve mass production. We can jointly lead the electric power field, The market offers exciting new options."

EDI products in light truck applications

Headquartered in Silicon Valley, California, EDI's hybrid system, the EDI PowerDriveTM series, has traveled more than 6 million miles (approximately 9.66 million kilometers) in fleet customer applications in the US and China. EDI's products and diverse customer base will be a powerful springboard for Cummins to enter the electric market and increase market share faster.

The acquisition will meet customary closing conditions and is expected to be completed in the third quarter of this year.

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