Engine maker Cummins to invest $1 billion in India

[NG Missile Vessels]

The Cummins Group plans to invest about $1 billion into its India operations and hire 4,000 people over the next decade as the global manufacturer of engines and power generation products braces for the transition from the traditional fossil fuel engines to those powered by hydrogen and other green energy choices.

"We have invested a billion dollars in India over the past 15 years," said Ashwath Ram, managing director, Cummins Group, India. "We plan to invest a similar amount over the next decade to be able to transition from the current technologies to new ones."

Most of the automotive business of Cummins in India is via Tata Cummins, and some of the investment is also done through subsidiary companies. In April this year, Cummins signed a definitive agreement with Tata Motors to manufacture a range of low-to zero-emissions technology products in India over the next few years.

The two companies have set up a new business entity called TCPL Green Energy Solutions (GES), and it will become operational in FY25.

Meanwhile, the listed entity Cummins India (CIL) is looking to double its investment in the coming years to '350 crore to '400 crore per annum as it partners with various automakers in the latter's switch to green mobility.

"Our investment is set to go up significantly, doubling in the coming years as compared with the past two to three years. There are many more technology intensive products being developed which will increase our capex cycle," said Ram.

Through the past decade, Cummins invested in building infrastructure. This has changed to investing in growth-based products to facilitate entry into new segments, new markets, and into electrification of the business. CIL will meet the funding requirement through internal accruals.

A participant in the government's productivity-linked incentive (PLI) scheme, Cummins Group plans to invest Rs1,000 crore in India over a five-year period starting from FY 2022-23. This includes investment in technology and doesn't account for the capex in creating infrastructure, said Ram.

India is no longer lagging the world in terms of emission standards, said Ram, citing an instance of the switch over to Central Pollution Control Board (CPCB) II to CPCB IV + genset norms. Effective July 1, the norms will make gensets more fuel efficient and costlier.

"The transition in emission norms may need 30-50% price hikes in the sub-800kW genset range. The sharp price difference will likely boost pre-buying and aid 1QFY24F sales and EBITDA," wrote Priyankar Biswas, analyst, Nomura Research, in a recent report.

Engine maker Cummins to invest $1 billion in India - The Economic Times

Cummins Group plans to invest $1bn in India over the next decade and recruit 4,000 staff as it shifts from fossil fuel engines to hydrogen and green energy options. Most of its Indian business is in Tata Cummins. In April, it partnered with Tata Motors to develop low-to zero-emission products...

m.economictimes.com

 

[One_Nation]

Indian army should have also planted Pakistani ID cards with addresses to make this look more credible.

 

[NG Missile Vessels]

Tata Motors, Tata Cummins officials plan hydrogen engine manufacturing plant in Jamshedpur

Ranchi, June 14: Jharkhand chief minister Hemant Soren had a meeting with senior officials of Tata Steel, Tata Motors and Tata Cummins at state secretariat in Ranchi on Wednesday.

The meeting discussed the possibilities of investment on the expansion of the New Green Technology Manufacturing Project (hydrogen technology engine based vehicle manufacturing) in Jamshedpur.

Tata Motors officials gave detailed information regarding the green technology manufacturing project through powerpoint presentation in front of the Chief Minister.

Officials of Tata Motors and Cummins India said before the Chief Minister that there are immense possibilities of investment on expansion of new green technology manufacturing project (hydrogen technology engine based vehicle manufacturing) in Jamshedpur.

Tata Motors and Tata Cummins are preparing to manufacture electric vehicles as well as hydrogen engine powered vehicles. Officials said that Tata Motors aims to achieve zero carbon emissions in the automobile sector for the coming 25 to 30 years. Tata Motors wants to set up hydrogen segment in Jamshedpur.

Officials informed Chief Minister that with the cooperation of the state government, the Green Hydrogen Mission can be achieved. Tata Motors is working on new technology of vehicles these days. Along with electric vehicles, Tata Motors is now focusing on the manufacturing of hydrogen engine powered vehicles. Tata Motors is interested in investing in the expansion of hydrogen technology in Jamshedpur. Tata Motors expects cooperation from the state government in this regard.

Green technology need of the hour: CM

Ranchi, June 14: Jharkhand chief minister Hemant Soren assured of all possible cooperation from the state government to the officials of Tata Motors, Cummins India and Tata Steel.

After obtaining detailed information from the officials on hydrogen engine based vehicle manufacturing plant Hemant assured them of all possible cooperation from the state government.

The Chief Minister said that at present global warming is a challenge for the whole world. There is a need to move towards green technology in future. There are immense possibilities of investment in Jharkhand. Tata Motors should work by preparing a better master plan for setting up a new green technology manufacturing project in a clean environment using new technology. The state government will always stand by the vehicle manufacturers for their cooperation.

Tata Motors, Tata Cummins officials plan hydrogen engine manufacturing plant in Jamshedpur | The Avenue Mail

Tata Motors, Tata Cummins officials plan hydrogen engine manufacturing plant in Jamshedpur | Corporate News | The Avenue Mail

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