Cummins and Isuzu Sign Letter of Intent to Evaluate Partnership Opportunities
Date:2018-10-09 Source:Cummins
Cummins Inc. (NYSE: CMI) and Isuzu Motors Limited announced today that they have signed a Letter of Intent to jointly evaluate opportunities to deliver globally competitive products.
In the commercial vehicle space, power sources are increasingly becoming more diverse and emissions regulations continue to grow more stringent around the world. Significant investment will be required to deliver the best next generation diesel and natural gas based powertrain solutions as well as alternative powertrains, connectivity and autonomy that our end customers demand. Collaboration and strategic partnerships will be essential to share increased investment costs and win in the market.
“Isuzu is a leading global company with a reputation for excellence in trucks, powertrains and customer service” said Tom Linebarger, Chairman and CEO of Cummins Inc. “Our companies share a commitment to technology leadership, quality and dependability for our customers, and global reach. We also share common values in the way we do business and how we treat our people, our customers, and our partners. Cummins is honored to be working with Isuzu and to explore how to leverage our respective strengths to create new opportunities for both companies.”
For nearly 100 years each, Isuzu and Cummins have been leaders in technology innovation with a broad global reach in complementary regions of the world. Together the companies believe there may be opportunities to benefit from each other’s unique strengths resulting in growth for both companies.
Each company has committed to assign a team of individuals over the next few months to explore potential opportunities in product technology development, service and other areas of collaboration with the potential for a longer-term partnership for the next generation of diesel and natural gas based internal combustion powertrains as well as new powertrain technologies such as electrification. Diesel engines continue to be the power leader for the foreseeable future in commercial vehicle and off-highway markets and such long-term partnership would enable both companies to grow globally. (www.chinatrucks.com)
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