Valmet Automotive has built up a battery business of significant size during the past five years and it has become one of the leading European independent manufacturers of battery modules and packs for the automotive industry. Launched in 2019, the business reached gross sales of more than 1.2 billion EUR in 2023, with net sales… Continue reading Valmet Automotive establishes its battery business as an independent company and appoints a CEO and CFO to lead it
Author: BusinessWire Online News
Valmet Automotive launched a solar power plant in Uusikaupunki
Construction of the solar power plant started on the Uusikaupunki site in April this year. The solar power plant site, located next to the facilities of battery and vehicle production, covers an area of 5000 m² and has a peak output of around 300 kW from 810 solar panels. The estimated annual production of the… Continue reading Valmet Automotive launched a solar power plant in Uusikaupunki
Cummins Reports Strong Second Quarter 2024 Results
COLUMBUS, Ind.–(BUSINESS WIRE)–Cummins Inc. (NYSE: CMI) today reported results for the second quarter of 2024. “We achieved record quarterly sales and solid profitability in the second quarter, led by significant improvement in our Power Systems business,” said Jennifer Rumsey, Chair and CEO of Cummins. “As we shared during our Analyst Day in May, our Destination… Continue reading Cummins Reports Strong Second Quarter 2024 Results
Valmet Automotive further expanding battery testing capabilities
Over the past five years, Valmet Automotive has invested around EUR 15 million in the Bad Friedrichshall site, starting with the commissioning of the High Performance Battery Test Center in 2020. As part of the now completed expansion, the test bench capacity has been more than doubled. In addition, a warehouse and logistics center were… Continue reading Valmet Automotive further expanding battery testing capabilities
Toyoda Gosei Invests in Letara Ltd., a Startup Developing Engines for Artificial Satellites
KIYOSU, Japan–(BUSINESS WIRE)–Toyoda Gosei Co., Ltd. (TOKYO:7282) has invested1 in Letara Ltd., a startup out of Hokkaido University that develops engines for artificial satellites. The engines being developed by Letara will enable satellites to move to a desired orbit after launch. With fuel technology using plastics and oxidizers, these engines provide both safety and propulsion,… Continue reading Toyoda Gosei Invests in Letara Ltd., a Startup Developing Engines for Artificial Satellites
Accelera by Cummins Awarded $75 Million for Zero-Emissions Manufacturing from Department of Energy
COLUMBUS, Ind.–(BUSINESS WIRE)–Cummins Inc. (NYSE: CMI) announced today that the company has been awarded $75 million to convert approximately 360,000 sq. ft. of existing manufacturing space at its Columbus (Indiana) Engine Plant (CEP) for zero-emissions components and electric powertrain systems. The $75 million grant is the largest federal grant ever awarded solely to Cummins and… Continue reading Accelera by Cummins Awarded $75 Million for Zero-Emissions Manufacturing from Department of Energy
Cummins Demonstrates How its Business and Sustainability Strategies Are Aligned, Effective in 2023-24 Sustainability Progress Report
COLUMBUS, Ind.–(BUSINESS WIRE)–Cummins Inc. (NYSE: CMI) has published its latest annual Sustainability Progress Report, announcing key advancements in the company’s efforts to fulfill its mission of making people’s lives better by powering a more prosperous world. “This report clearly illustrates how our business and environmental strategies are intentionally and intricately aligned – how we are… Continue reading Cummins Demonstrates How its Business and Sustainability Strategies Are Aligned, Effective in 2023-24 Sustainability Progress Report
Cummins Inc. Increases Quarterly Common Stock Dividend
COLUMBUS, Ind.–(BUSINESS WIRE)–The Board of Directors of Cummins Inc. (NYSE: CMI) today approved an increase in the company’s quarterly common stock cash dividend of approximately 8.3% from 1.68 dollars per share to 1.82 dollars per share. The dividend is payable on September 5, 2024, to shareholders of record on August 23, 2024. Cummins has increased… Continue reading Cummins Inc. Increases Quarterly Common Stock Dividend
Toyoda Gosei Invests in Synspective Inc., a Startup That Develops and Operates Small Artificial Satellites
KIYOSU, Japan–(BUSINESS WIRE)–Toyoda Gosei Co., Ltd. (TOKYO:7282) has invested1 in Synspective Inc., a startup that develops and operates small SAR satellites2 and provides solutions based on satellite data analysis. Synspective was established based on development results for technology to make smaller SAR satellites in the Japanese Cabinet Office’s innovative research and development program (ImPACT).3 Its… Continue reading Toyoda Gosei Invests in Synspective Inc., a Startup That Develops and Operates Small Artificial Satellites
Accelera by Cummins, Daimler Truck and PACCAR Complete Battery Joint Venture Transaction to Form Amplify Cell Technologies and Names New CEO
COLUMBUS, Ind. & PORTLAND, Ore. & BELLEVUE, Wash.–(BUSINESS WIRE)–Accelera by Cummins, the zero-emissions business unit of Cummins Inc. [NYSE: CMI], Daimler Trucks & Buses US Holding LLC [a Daimler Truck Group Company; DAX: DTR0CK; “Daimler Truck”] and PACCAR [NASDAQ: PCAR] have completed the formation of their joint venture, now known as Amplify Cell Technologies, to… Continue reading Accelera by Cummins, Daimler Truck and PACCAR Complete Battery Joint Venture Transaction to Form Amplify Cell Technologies and Names New CEO