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A company known for its diesel engines has announced an investment in a developer of rechargeable battery technology.
As part of the multi-year agreement between Cummins and Sion Power Corp., Sion will design and supply large format battery cells based on its lithium metal technology for use in Cummins battery packs. The battery packs will in turn be integrated into the electric powertrains of future utility vehicles.
Indiana-based Cummins will also acquire a minority stake in Tucson, Arizona-based Sion; Financial details were not disclosed.
Company officials said the deal would allow Sion to develop its technology for the commercial market and allow the two companies to capitalize as the global trucking industry increasingly embraces electric powertrains. Executives said that the lithium metal anode and Sion’s patented manufacturing process provide the power and range required for demanding commercial applications.
“Our customers rely on Cummins to deliver the world’s toughest electric powertrains,” Amy Davis, President of Cummins New Power Segment, said in the ad. “We need battery technologies that will meet performance and cost expectations for the tough duty cycles of commercial vehicles. “
Sion officials added that Cummins would be an ideal partner in its efforts to decarbonize the entire transportation industry.
“Together, this strategic relationship sets us on the path to the future of batteries,” said Tracy Kelley, CEO of Sion.
Image Credit: asharkyu / Shutterstock.com
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