Cummins and Johnson Matthey Expand Their Electromobility

Cummins Inc. (NYSE: CMI) announced on January 31, 2018 local time, the acquisition of the automotive battery system business of Johnson Matthey’s subsidiary business. Johnson Matthey's automotive battery system business is located in the United Kingdom and is focused on providing high-voltage vehicle battery systems for electric and hybrid vehicles. At the same time, Cummins and Johnson Matthey also reached an agreement to develop high energy density battery materials in the field of heavy commercial vehicles.

The acquisition and cooperation will enable Cummins and Johnson Matthey to achieve a win-win situation. The acquisition of the automotive battery system business will help Cummins further enhance its electrification and energy storage capabilities and further advance its goal of becoming a global leader in the electric sector. And Johnson Matthey will focus more on developing high energy density battery materials, such as the industry-leading enhanced lithium nickel oxide (eLNO) products for transportation applications, thereby strengthening its comprehensive technological advantages.

The two parties hope to rely on their own in-depth expertise to jointly develop new products that will enhance the performance of commercial devices.

Tom Linebarger, chairman and chief executive officer of Cummins, stated: "Joseph Wanfeng has a strong technical advantage in battery systems and has a good customer base in the electric frontier market. This cooperation will accelerate the promotion of Cummins. To become a global leader in energy storage, Cummins will achieve unique advantages in the field of electrification by integrating electric power, multiple power solution portfolios, and a global network, whether electric, diesel, natural gas or other power solutions. The customer's application needs are diversified and power optimized, and high-quality products help customers to succeed and thus stand out in the industry.”

Johnson Matthey CEO Robert MacLeod said: “The cooperation with Cummins is an important step in the development of Johnson Matthey. This will help us consolidate our position in the field of high energy density battery materials, especially for heavy equipment applications. This market segment will also help us to give full play to our chemical expertise in the development of new products to satisfy the customers and the ultimate consumers’ pursuit of electric vehicle performance. After integrating the vehicle battery system business into Cummins, we will Focus more on eLNO's strategic platform for the development of battery materials for all types of transportation applications.”

Previously, Johnson Matthey battery system was the largest supplier of lithium battery systems in Europe. It is located in Milton Keynes, UK and employs 50 people.

In October 2017, Cummins completed the acquisition of another leading battery company, Brammo. Brammo is a technology company specializing in the design and development of low-voltage battery packs for mobile and stationary equipment. This acquisition enabled Cummins to gain expertise in Johnson Matthey's expertise in high-voltage battery systems, and Cummins has successfully built its entire line of power storage solutions.

In the future, Cummins will continue to explore potential opportunities to improve the electrification capabilities and prepare for the introduction of electric drive systems to customers in 2019.

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