Cummins shares rose after the truck engine giant announced Wednesday that it has bought a vehicle battery systems business from British sustainable technologies firm Johnson Matthey.
It comes as the trucking industry moves toward alternative-fuel trucks, most notably the vaunted Tesla Semi, which was unveiled at a November press conference by Tesla CEO Elon Musk. Nikola Motor also announced Tuesday it is to build a $1 billion hydrogen-electric semi truck factory in Arizona. Last August, Cummins unveiled the Aeos, a demonstration class 7 truck with a 100-mile range.
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