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Cummins Takes Minority Stake in Sion Power to Develop Lithium Metal Technology

By Robb M. Stewart

 

Engine maker Cummins Inc. has a minority stake in battery technology company Sion Power Corp. to advance its plans to electrify its commercial vehicle products.

The engine maker said Tuesday its investment is aimed at advancing lithium-metal technology for the commercial vehicle market and will help position both companies for future commercialization of the technology. Sion’s Licerion technology is part of Cummins’ plans for future electric commercial vehicle offerings, it said.

Under the terms of the agreement, Sion Power will participate in a multi-year development program to develop and supply large format lithium metal battery cells for use in Cummins battery packs, Cummins said. The batteries developed by Cummins will be integrated into its electric drivetrains for commercial vehicles, it said.

 

Write to Robb M. Stewart at robb.stewart@wsj.com