Columbus, Indiana – Diesel engine producer Cummins Inc. has purchased the battery systems business of UK-based Johnson Matthey, giving Cummins a division that produces high-voltage, automotive-grade battery systems for electric and hybrid vehicles.
As part of the acquisition, Cummins and Johnson Matthey also agreed to collaborate on the development of high energy battery materials for commercial heavy-duty applications.
The acquisition of the automotive battery systems business allows Cummins to expand its electrification and energy storage capabilities. Johnson Matthey is able to focus on developing high energy battery materials including enhanced lithium nickel oxide (eLNO) products for transport applications.
Cummins Chairman and CEO Tom Linebarger says, “By combining our electrification capabilities, portfolio of diverse power solutions, and global network, Cummins is uniquely positioned to lead in electrification.”
Johnson Mathey CEO Robert MacLeod adds, “It will enable us to grow our position in high energy battery materials, particularly for heavy-duty applications, and apply our chemistry expertise to develop new products that will give our customers, and ultimately consumers, the performance they demand from electrically powered vehicles.”