The century-old manufacturer is beefing up its sales goals for batteries, electric truck components and technology to make carbon-free hydrogen as tougher regulations threaten its core business in the years ahead.
lon Musk and Tesla executives recently tried to wow investors with ambitious, wide-ranging plans to make vehicles and energy more sustainable. Now Tesla’s green energy plans are facing competition from a surprising source: Cummins, a century-old industrial giant best known for making diesel engines and generators.
The business opportunity—and challenge—for Cummins and other makers of commercial and heavy vehicles is enormous, running to hundreds of billions of dollars in the years ahead to replace traditional truck engines and generators. Transportation is the main source of U.S. carbon emissions, accounting forof the total in 2020, and commercial vehicles spewed more than a quarter of that.
Hydrogen is used for steel and metal production, oil refining and in the chemical and food-processing industries, but it’s sourced mainly from natural gas in a process known as steam reformation that releases carbon dioxide. The shift to generating the universe’s most abundant element from water and renewable energy holds the promise of dramatically cutting industrial CO2 emissions even before hydrogen becomes a more widely used transportation fuel.
“My personal opinion is that hydrogen will not be used meaningfully in transport … it shouldn't be,” he said.Elon Musk, Tesla CEO
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