Cummins is expanding its portfolio of electric drive technologies with the acquisition of the assets of Brammo, Inc. The firm designs and develops battery packs for use in mobile and stationary drive applications. The purchase of the Brammo battery pack technology will help boost the range of systems and expertise for Cummins. With this deal Cummins intends to become a global leader in the market for electric drives, complementing its range of compression ignition and turbocharging technologies.
Cummins is expanding its portfolio of electric drive technologies with the acquisition of the assets of Brammo, Inc. The firm designs and develops battery packs for use in mobile and stationary drive applications. The purchase of the Brammo battery pack technology will help boost the range of systems and expertise for Cummins. With this deal Cummins intends to become a global leader in the market for electric drives, complementing its range of compression ignition and turbocharging technologies.
At the end of 2008 and the start of 2009, the world's banking system spiralled into crisis, triggered by a series of catastrophic blunders caused by bankers trying to create money from nothing. The result was to plunge the world's economy rapidly into recession. Having proved in effect that lead cannot be turned into gold, the bankers retired on fat pensions leaving governments to pledge huge sums to the banks and fill in the financial gaps.
