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Cummins'Destionation Zero Strategy Receives Major Support Through Implementation Plan For EV Charging Equipment

Views: 0     Author: Columbus, Indiana     Publish Time: 2023-03-06      Origin:


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Cummins' Destionation Zero Strategy Receives Major Support Through Implementation Plan For EV Charging Equipment 


A Cummins Inc.-led project to develop battery charging and hydrogen (H2) fueling stations along the Interstate 80 Midwest Corridor will accelerate with the Biden Administration’s announcement this week of the standards and funding for the National Network of Electric Vehicle Chargers.

The Bipartisan Infrastructure Law, passed in 2021, invests $7.5 billion in electric vehicle (EV) charging, $10 billion in other forms of clean transportation and over $7 billion in EV battery components, critical minerals and materials. One of the projects on the select list is Cummins’ Medium-Duty, Heavy-Duty Zero Emissions Vehicle (MD-HD ZEV) Infrastructure Planning with a focus on the I-80 Midwest Corridor.

In less than two years, the project will develop an extensive, two-phase MD-HD ZEV charging and H2 Fueling Plan for a corridor serving Indiana, Illinois and Ohio. The plan would support 30% of the MD-HD fleet expected to be using ZEV technologies by 2035, potentially benefitting millions of drivers across 23 states.

“With Destination Zero, our strategy to reach net-zero emissions by 2050, we are investing in a broad portfolio of power solutions, leveraging our deep understanding of our customers as we work to decarbonize our industry in a way that is best for all stakeholders,” says Jennifer Rumsey, President and CEO at Cummins.

“We can’t do it alone; it will take all of us – policy makers and peer companies – working together to address a challenge of this magnitude as decarbonization of our economy is critical to our way of life and a sustainable future,” Rumsey adds. “Today’s announcement is a promising step forward in advancing our shared goals of getting to net-zero.”

Cummins has pledged to play a leadership role in addressing the world’s climate challenges. This funding will accelerate the creation of zero-emission vehicle corridors that expand the nation’s EV charging infrastructure, with the vision of building 500,000 EV chargers by 2030 and delivering a convenient, reliable and Made-in-America EV charging network. Selected projects also support DOE’s Justice40 priorities by demonstrating the impacts and benefits of these freight corridors plans on underserved communities. 

Forward-looking disclosure statement

Information provided in this release that is not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our forecasts, guidance, preliminary results, expectations, hopes, beliefs and intentions on strategies regarding the future. These forward-looking statements include, without limitation, statements relating to our plans and expectations for our revenues and EBITDA. Our actual future results could differ materially from those projected in such forward-looking statements because of a number of factors, including, but not limited to: any adverse results of our internal review into our emissions certification process and compliance with emission standards; increased scrutiny from regulatory agencies, as well as unpredictability in the adoption, implementation and enforcement of emission standards around the world; changes in international, national and regional trade laws, regulations and policies; changes in taxation; global legal and ethical compliance costs and risks; evolving environmental and climate change legislation and regulatory initiatives; future bans or limitations on the use of diesel-powered products; failure to successfully integrate and / or failure to fully realize all of the anticipated benefits of the acquisition of Meritor, Inc. (Meritor); raw material, transportation and labor price fluctuations and supply shortages; any adverse effects of the conflict between Russia and Ukraine and the global response (including government bans or restrictions on doing business in Russia); aligning our capacity and production with our demand; the actions of, and income from, joint ventures and other investees that we do not directly control; large truck manufacturers' and original equipment manufacturers' customers discontinuing outsourcing their engine supply needs or experiencing financial distress, or change in control; product recalls; variability in material and commodity costs; the development of new technologies that reduce demand for our current products and services; lower than expected acceptance of new or existing products or services; product liability claims; our sales mix of products; failure to complete, adverse results from or failure to realize the expected benefits of the separation of our filtration business; our plan to reposition our portfolio of product offerings through exploration of strategic acquisitions and divestitures and related uncertainties of entering such transactions; increasing interest rates; challenging markets for talent and ability to attract, develop and retain key personnel; climate change, global warming, more stringent climate change regulations, accords, mitigation efforts, greenhouse gas (GHG) regulations or other legislation designed to address climate change; exposure to potential security breaches or other disruptions to our information technology environment and data security; political, economic and other risks from operations in numerous countries including political, economic and social uncertainty and the evolving globalization of our business; competitor activity; increasing competition, including increased global competition among our customers in emerging markets; failure to meet environmental, social and governance (ESG) expectations or standards, or achieve our ESG goals; labor relations or work stoppages; foreign currency exchange rate changes; the price and availability of energy; continued availability of financing, financial instruments and financial resources in the amounts, at the times and on the terms required to support our future business; and other risks detailed from time to time in our SEC filings, including particularly in the Risk Factors section of our 2022 Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the SEC, which are available at or at in the Investor Relations section of our website.

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