Cummins
Screenshot 2022 12 01 225034 63898428c9d08

Cummins' Meritor closes on acquisition of Siemens' Commercial Vehicle business

Dec. 2, 2022
The Cummins subsidiary will close on the deal initiated in May. The acquisition is part of the companies' strategy to expand electric powertrain offerings.

Meritor has completed its acquisition of Siemens’ Commercial Vehicles business, according to a Nov. 30 press release from Meritor's parent company, Cummins. In May 2022, Meritor entered an agreement to acquire the business for approximately $200 million. Cummins subsequently completed its acquisition of Meritor in August 2022.

The acquisition is intended to add several technologies to Meritor's portfolio to aid them in developing electric powertrains, such as direct drive and transmission-based remote mount electric motors, inverters, and software. The acquisition also gives Meritor 200 more employees, primarily in Germany, China, and the U.S.

“We are excited to welcome Siemens’ Commercial Vehicles electric drive systems business into Cummins,” said Jennifer Rumsey, Cummins’ president and CEO. “By combining our collective, deep knowledge of our industry and how our customers use our applications, we will innovate and advance key technologies. This acquisition also reflects another key milestone in the execution of our strategy to reach net-zero emissions by 2050 in a way that is best for our customers and the planet.”

“We are thrilled to join Cummins, which has a long history serving the commercial vehicle market,” said Mart Verschoor, former CEO of Siemens Commercial Vehicles, who will assume the role of VP of traction systems within Cummins. “I know we will deliver technologies required to accelerate adoption of zero-emission powertrains that delight our customers and move our communities forward.”

About the Author

Scott Keith

Scott Keith is a former fleet owner digital editor, who was on staff from 2022 to 2023.

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!

Sponsored Recommendations

Guide To Boosting Technician Efficiency

Learn about the bottom line and team building benefits of increasing the efficiency of your technicians in your repair shop.

The Ultimate Trailer Tracking Technology Checklist for Enterprise Fleets

We understand the challenges you face in consolidating inventory, reducing theft, and tracking revenue. That’s why we’ve created the ultimate checklist to help you evaluate your...

Discover 4 Easy Ways to Level-Up Efficiency with Trailer Telematics

In today's competitive landscape, gaining an edge is vital. That's why top fleets are utilizing trailer telematics to boost efficiency and we've captured their secrets. Introducing...

The Future of Mirrors is Closer Than it Appears

Why Mirror Camera Systems are the next step for fleet safety and exoneration While many commercial trucking cameras are similarly marketed, they are not all created equally. The...