Cummins (CMI) Secures $75M Grant to Transform Indiana Facility
CMICummins(CMI) ZACKS·2024-07-16 23:10

Cummins Inc. (CMI) has secured a 75milliongrantfromtheDepartmentofEnergytotransformaround360,000squarefeetofitsColumbusEnginePlant(CEP)inIndianaintoafacilityforzero−emissionscomponentsandelectricpowertrainsystems.Thisgrant,thelargesteverawardedsolelytoCummins,ispartofthefundingfromtheInflationReductionAct. CMIwillmatchthegrant,investinganadditional75 million grant from the Department of Energy to transform around 360,000 square feet of its Columbus Engine Plant (CEP) in Indiana into a facility for zero-emissions components and electric powertrain systems. This grant, the largest ever awarded solely to Cummins, is part of the funding from the Inflation Reduction Act. CMI will match the grant, investing an additional 75 million, making a total of $150 million to transform the space and increase production of battery p ...