COLUMBUS, Ind – Executives from Columbus-based Cummins Inc. (NYSE: CMI) met with the analysts and shareholders Friday in New York to lay out the company’s future beyond diesel technology.
Cummins Chairman and Chief Executive Officer Tom Linebarger shared the company’s plans to generate profitable growth in next-generation powertrain technology.
“Cummins has continued to advance its diesel and natural gas powertrains while we have increased our focus on battery and fuel cell technologies, providing customers with the products and support for all of their powertrain needs,” said Linebarger.
Linebarger says leadership in powertrain technology has been instrumental in driving strong returns for stockholders, but to remain a leader includes a serious investment of time and money into low carbon power generation.
“Technology transition is inevitable. It’s beneficial, and it’s inevitable. So, we will be helping it occur. We will be winning through it,” said Linebarger
President and Chief Operating Officer Tony Satterthwaite said the company will continue to make investments to improve fuel economy and lower emissions in its diesel and natural gas platforms.
“While we do anticipate a shift towards electrification in some markets over the coming years, diesel will be the primary source of energy in commercial vehicles for many years to come,” said Satterthwaite.
“Cummins will continue to lead the way in developing cleaner and more fuel-efficient diesel engines.”
Linebarger admits Cummins we may not be first to market in every case, but it will be ready with the product when the market demands it.
“We don’t have to be ready with the product 10 years before the market’s there, we can be ready when it’s there and when the customer wants to put in a real product,” add Linebarger.
Last week the company announced a major climate change initiative, setting an aspirational goal of net-zero carbon emissions within three decades for the engines it builds, and the manufacturing plants it operates.
Cummins CEO Tom Linebarger explains in a company webcast how innovation has driven the 100-year-old manufacturer.
Linebarger explains how product line diversification can win out.