Cummins, Meritor complete purchase of Siemens’ Commercial Vehicles business

Cummins Inc. business unit Meritor has completed its acquisition of Siemens’ Commercial Vehicles business, a global supplier of high-performance electric drive systems for commercial vehicles.

Meritor and Cummins announced the planned acquisition in May.

Siemens is based in Munich. Siemens USA is headquartered in Washington, D.C.

Siemens Commercial Vehicles business develops, designs and produces high-performance electric drive systems. The division has about 200 employees across Germany, China and the United States.

The acquisition augments Troy, Mich.-based Meritor’s capabilities in direct-drive and transmission-based remote mount electric motors, inverters, software and related services that are expected to be critical elements in the next generation of electric powertrains, according to Cummins.

The acquired business will report through Cummins New Power business unit.

Mart Verschoor, former CEO of Siemens Commercial Vehicles, assumes the role as vice president for traction systems within Cummins’ New Power segment.

“We are excited to welcome Siemens’ Commercial Vehicles electric drive systems business into Cummins,” said Jennifer Rumsey, president and chief executive officer of Columbus, Ind.-based engine maker. “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.”

Cummins completed its purchase of Meritor in August. The purchase of Siemens’ Commercial Vehicles business was announced in May.

Cummins Inc. is a multinational corporation that specializes in diesel and alternative fuel engines and generators, and related components and technology. Cummins sells products in about 190 countries. The company is listed under the ticker symbol CMI. Cummins also announced acquiring Jacobs Vehicle Systems, original manufacturer of the Jake Brake, this year. LL

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