The parties intend to collaborate on the development of new products with enhanced performance characteristics for commercial applications relying on the unique and deep expertise of each company.
“The addition of Johnson Matthey Battery Systems’ technical expertise and customer base in markets that are more rapidly adopting electrification further positions us as a global energy storage supplier,” said Tom Linebarger, Chairman and CEO, Cummins Inc. “By combining our electrification capabilities, portfolio of diverse power solutions, and global network, Cummins is uniquely positioned to lead in electrification. What differentiates us is our ability to help customers succeed with high quality products across the spectrum of power solutions they use, whether it’s electric, diesel, natural gas or other energy solutions.”
“This collaboration with Cummins is an important step for us”, said Robert MacLeod, Chief Executive, Johnson Matthey. “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. In divesting our automotive battery systems business to Cummins we can focus on our strategy of expanding our eLNO platform and developing commercial battery materials for the full range of transport applications.”