Cummins Inc., a global power solutions leader and Engine giant linked to Black executive Sharon Barner, has announced a $1-billion investment to bolster its manufacturing presence across the United States. This aligns with the company’s commitment to revitalize American manufacturing, create jobs, and develop cleaner technologies for the transportation sector.
The investment will focus on upgrading engine manufacturing facilities in Indiana, North Carolina, and New York. These upgrades will support the production of the industry’s first fuel-agnostic engine platform, capable of running on low-carbon fuels like natural gas, diesel, and eventually hydrogen. This technology holds significant potential for decarbonizing the nation’s truck fleets.
Cummins unveils fuel-agnostic engine, backing President Biden’s industrial push
Cummins’ initiative to manufacture a new fuel-agnostic engine platform aligns with the Biden Administration’s focus on domestic production and technological innovation, as outlined in the Investing in America agenda. President Biden is scheduled to visit the Cummins facility in Fridley, Minnesota, on April 3
The project is expected to generate job opportunities across various skillsets, stimulate economic growth in Cummins’ operating regions, and shape the future of transportation. As part of this initiative, Cummins plans to invest $452 million in its Jamestown Engine Plant (JEP) in New York to manufacture this groundbreaking fuel-agnostic engine platform. The first field test unit will be delivered to Walmart later in April for real-world evaluation.
Cummins steams ahead with strong financials and executive leadership
Cummins Inc. has been firing on all cylinders, achieving impressive financial milestones under the leadership of executives like Barner. A key example is the company’s 2022 performance, which saw revenue surge by over 16 percent year-over-year, climbing from $24.02 billion to $28.07 billion. Assets also experienced healthy growth, rising 27.79 percent from $23.71 billion in 2021 to $30.30 billion in 2022.
Barner’s commitment extends beyond her leadership roles. She holds a minority stake of 0.013 percent in Cummins, representing approximately 17,874 shares. This stake, currently valued at over $4.2 million, reinforces her personal alignment with the continued success of the company. Cummins designs, manufactures, and distributes engines, filtration, and power generation products, making it a major player in the global industrial landscape.
By bolstering its U.S. manufacturing capabilities, Cummins is strategically positioning itself to capitalize on emerging market opportunities. This move allows the company to navigate market uncertainties with greater agility and deliver continued value to its stakeholders. Cummins remains committed to excellence, sustainability, and driving positive change in the communities it serves.
