Cummins (CMI) to Power GILLIG's Buses With Electric Energy
Cummins Inc. CMI reported new power partnership with GILLIG LLC at the American Public Transportation Association (“APTA”) show in Atlanta. The partnership will focus on combining and modifying new battery electric technology developed by the former and to be used for the latter’s zero-emission transit buses.
The new electrified bus power systems will be introduced on Oct 10 at the Cummins APTA booth.
The initial plan is to develop a new battery electric technology for GILLIG buses, having an operating range of 200-miles on a single charge. Additionally, the buses will have direct-drive traction motor and will use energy derived from the regenerative braking system. Initially, the deployed buses will have a single plug-in charger.
Cummins Inc. Price and Consensus
Cummins Inc. Price and Consensus | Cummins Inc. Quote
Apart from technical features, Cummins will offer a full range of 24/7 service support, diagnostics, flexible warranty plans and training programs for the buses.
Currently, Cummins powers GILLIG’s Low Floor, BRT, BRTPlus, Commuter and Trolley buses, powered with a clean-diesel, near-zero natural gas and diesel-hybrid combustion engines.
Addition of electrified power systems will be in line with the transit customers aim to introduce buses with zero-emissions in their fleets while continuing with their existing GILLIG vehicles.
Price Performance
Shares of Cummins have surged 25.7% year to date, significantly outperforming the industry’s 17.4% rally.
Zacks Rank & Other Key Picks
Cummins carries a Zacks Rank# 2 (Buy).
Some other top-ranked auto stocks are Toyota Motor Corporation TM, Daimler AG DDAIF and Westport Fuel Systems Inc. WPRT. Toyota sports a Zacks Rank #1 (Strong Buy), whereas Daimler and Westport Fuel hold a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
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Daimler has an expected long-term earnings growth rate of 2.8%.
Westport Fuel has an expected long-term earnings growth rate of 30%.
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