光阴似箭，岁月如梭，转眼间2025年已经走完了一半的路程。 回望2025年上半年，我国商用车行业跌宕起伏的背后，发动机行业也经历了不少变化，竞争 亦越发激烈。其中，对于拥有行业领先技术的康明斯而言，依然是收获颇丰的半年。在这段时 光，康明斯迎头奋进，在不断变化的市场环境中实现持续增长；同时，康明斯紧抓行业发展机 遇，踏上历史发展的又一个阶梯。上半年，康明斯不仅有新品发布、也有市场新的突破，更取 得多项重磅成果……下面，就一起看一看，康明斯上半年都有哪些大事件发生？ 事件一：销量稳步增长 康明斯持续领跑行业 2025年上半年，康明斯在中国的销售业绩实现了稳步增长。据中内协数据显示，2025年上半 年，我国多缸柴油机累销215.41万台，同比增长3.84%。其中，东风康明斯表现优异，上半 年实现销售11.31万台，同比增长11.08%，增幅跑赢市场整体大盘，份额占比5.25%，份额 同比上升0.49个百分点，市场表现引人注目。 康明斯在华销售业绩的飘红，不仅仅是数字的增长，更是康明斯品牌价值、技术创新、市场布 局和服务体系全面升级的集中展现，更代表了用户对康明斯品牌的信赖，以及康明斯与全球合 作伙伴共创辉煌的决心 ...

康明斯公司日前宣布，自2025年8月1日起，康明斯中国零部件事业部总经理柴永全擢升康明 斯副总裁。凭借深厚的技术专长、卓越的战略眼光以及对人才发展的坚定承诺，柴永全为推动 康明斯中国业务的持续增长发挥了重要作用。 柴永全在中国零部件业务的战略规划中发挥了至关重要的作用，通过优化组织架构，推动人才 发展，高效整合现有资源，实现了效率与效能的双重提升。他带领团队不仅取得了卓越的运营 绩效，还深化了与本地合作伙伴的关系，践行公司 "零碳目标"战略，推动当前及未来业务增 长。他深度参与并积极推行适应中国市场需求的产品开发战略（Fit for market），推出满足 最新道路及非道路排放法规要求的后处理解决方案，助力零部件业务在华实现创纪录的营收。 此外，通过与北汽福田和卓品智能建立合资企业，进一步拓展康明斯的业务版图，巩固公司在 核心技术和零排放技术领域的领先地位。 柴永全于2005年加入康明斯，拥有超过20年的跨职能管理经验，先后在康明斯美国及中国多 地担任重要领导岗位。早期历任产品前沿技术控制工程师、重型发动机燃烧性能与排放工程 师、康明斯排放处理系统系统集成性能负责人；2013年回到中国后，先后担任康明斯排放 ...

将业务的长期战略转换为增长性业务目标，达成或超越康明斯和陕汽设定的各项业务指标； 康明斯中国和陕汽集团联合宣布，自2025年8月1日起，现任东风康明斯发动机有限公司（以 下简称：东风康明斯）副总经理李峰将出任西安康明斯发动机有限公司（以下简称：西安康明 斯）总经理，全面负责西安康明斯的运营管理，包括制定并执行公司战略、设立长期增长目 标、构建关键职能能力、进一步提升客户体验、推动市场份额增长，并实现营收目标 。 统筹管理西安康明斯的运营工作，通过与内部和外部的重要利益相关方密切合作，达成董事会 设定的绩效目标； 同时，他还将兼任合作伙伴关系管理负责人，负责推进康明斯与陕汽"双赢"合作业务战略并拓 展全方位业务合作机会。原西安康明斯总经理王春光已调往康明斯美国总部担任要职。 强化客户关系，与团队协力持续提高客户满意度，深度理解未来的客户需求； 在新的岗位上，李峰将从以下几个方面驱动合资公司的运营及合作协同： ● 6月新能源轻客销2.4万辆渗透率超61%！五菱/远程争冠 大通/江铃翻倍涨 | 头条 ● 牵引/自卸/换电销冠都是TA，谁在新能源重卡市场如此霸气？ ● 豪掷2.75亿招标氢能车辆，谁能中标？ ● 零一 ...

7月21日，康明斯中国官微消息，康明斯中国与东实汽车科技集团联合宣布：现任东风康明斯发动机有限公司（以下简 称：东风康明斯）副总经理刘建国出任东风康明斯排放处理系统有限公司（以下简称：东风康明斯排放处理系统）总经 理，全面负责和管理东风康明斯排放处理系统各项工作，该任命于2025年7月21日生效。 在新的工作岗位上，刘建国将重点关注：全面负责合资公司运营及管理，完成董事会下达的各项任务及指标。将业务的 长期战略转换成有挑战的业务目标，持续提升产品市场竞争力及优化客户支持。优化公司运营体系并通过管理和实施跨 职能的程序和流程实现运营优异。强化客户关系，深度理解客户需求，持续提高客户满意度。不断提升企业健康、安全 及环境的管理水平。发展高绩效团队，持续培养企业人才，有效形成管理梯队。 据了解，刘建国深耕汽车行业20余年，积累了丰富多元的工作经验，涵盖工厂管理与运营、服务、采购、生产与设备管 理多个领域。刘建国于2022年担任东风康明斯副总经理，负责工厂的管理与运营。任职期间，他带领团队取得了卓越的 业绩，在安全生产、质量管控、成本优化，以及效率提升等关键领域取得显著提升。 东风康明斯排放处理系统成立于2013年， ...

Investment Rating - Caterpillar Inc. (CAT) and Cummins Inc. (CMI) are both rated as "Buy" with price targets of $418 and $431 respectively [6][7][14]. Core Insights - The report indicates a positive outlook on the sustainability of data center demand, projecting that CAT and CMI will deliver approximately 6-7 GW of backup generator supply this year, against an incremental data center computing capacity of around 13 GW [3]. - CAT is expected to benefit from turbine prime power sales, with CAT Titan 130 turbines specified in regulatory filings for various projects, potentially generating revenue of approximately $250-300 million based on 15 turbines [3]. - CMI is investing $150 million to expand its machining capacity, while CAT is investing over $700 million to upgrade its facilities, indicating high ROI potential for both companies [3]. Summary by Sections Data Center Demand and Supply - CAT and CMI are projected to supply around 6-7 GW of backup power, with data centers historically seeking to back up over 100% of their power needs [3]. - The estimated backup power requirements for 2025 range from 6.6 GW (50% coverage) to 15 GW (115% coverage) based on 13 GW of net data center additions [3]. Company Investments - CMI's investment of $150 million focuses on expanding machining capacity, while CAT's investment of over $700 million includes productivity improvements and facility upgrades [3]. - The report highlights CAT's emerging opportunity in turbine sales, with specific projects already incorporating CAT turbines [3]. Revenue Projections - The revenue from CAT turbines specified in regulatory filings is estimated to be around $250-300 million based on the number of turbines involved in various projects [3].

Core Viewpoint - The industry is undergoing profound changes characterized by intelligence, greenness, and globalization, with Cummins aiming to support Taiyuan Heavy Industry Group's business development through efficient and reliable power solutions and comprehensive services [1][3]. Group 1: Strategic Collaboration - The partnership between Cummins and Taiyuan Heavy Industry Group has lasted over 20 years, with Cummins becoming a key partner due to its advanced technology and high-quality products in the engineering machinery power sector [3]. - The strategic collaboration focuses on customized product development, global market synergy, and comprehensive lifecycle services, enhancing mutual trust and cooperation [3][5]. Group 2: Market Expansion and Technological Synergy - Cummins will leverage its 50 years of experience in China, including breakthroughs in diversified energy technologies and a rich product line to meet niche market demands [5]. - The collaboration will involve deep technological synergy, creating customized power and service solutions based on precise market insights [5]. - Cummins' extensive global service network, covering over 190 countries, will support Taiyuan Heavy Industry Group's internationalization strategy, facilitating its "going global" objectives [5].

Core Insights - The North American medium and heavy-duty commercial vehicle (CV) electronic service tools (EST) market is experiencing gradual growth driven by advancements in vehicle complexity, focus on efficiency, and regulatory pressures [2][3][7] Market Dynamics - The market is influenced by stringent emissions regulations, such as the US EPA standards, which compel fleet operators to adopt advanced diagnostic tools for compliance [3][7] - Increasing complexity of heavy-duty truck systems necessitates sophisticated diagnostics software for optimal performance [2][8] - There is a growing demand for comprehensive fleet management solutions that provide real-time monitoring and diagnostics [9] Competitive Landscape - The market features a mix of OEMs and aftermarket companies, with key players including Cummins, Daimler Trucks North America, Volvo Group, PACCAR Inc., and Navistar International Corporation [4] - Aftermarket participants include Noregon Systems, Snap-on Inc., and Autel Intelligent Technology Corp. Ltd. [4] - The competitive dynamics have shifted, with an increasing average age of trucks leading to greater opportunities for aftermarket vendors [24] Emerging Trends - Key trends include the adoption of cloud-based solutions, shop automation, modularity, and product customization [5] - Innovative business models are emerging, such as product-as-a-service (PaaS) and technician as a service (TaaS) [18][19] - The market is witnessing technological disruptions due to the challenges faced by electric vehicles (EVs), prompting a shift towards alternative fuel engines [20][21] Growth Drivers - Stringent emission regulations are a significant driver for the demand for advanced diagnostic tools [7] - The rising complexity of truck systems increases the need for effective diagnosis and repair solutions [8] - Fleet management solutions are increasingly sought after to optimize performance and reduce costs [9] Growth Restraints - Integration issues with existing vehicle systems can pose challenges, especially for older models [13] - High initial investment and ongoing maintenance costs can impact long-term affordability [14] - Market saturation and product commoditization are leading to increased competition among established players [15][16] Key Competitors - Major competitors in the market include OEMs like Cummins, Daimler, Volvo, PACCAR, and Navistar, as well as aftermarket companies like Noregon Systems and Snap-on Inc. [26][28] - The competitive factors include technology development, product pricing, customer support, and distribution networks [28]

Core Insights - CMI Media Group has appointed Andy Shaughnessy as SVP of Data Analytics, aiming to enhance actionable analytics for clients across various channels [1] - Andy Shaughnessy brings 15 years of experience in pharma analytics, focusing on omnichannel strategy and advanced analytics [2] - His career includes notable achievements such as multiple awards for analytics excellence and a strong track record in the pharma analytics industry [3] Company Overview - CMI Media Group is a leading healthcare media specialist under WPP, recognized for its innovative contributions to healthcare marketing [5] - The agency offers a range of services including Audience Strategy, Data and Analytics, and Customer Experience, positioning itself as a key resource for top healthcare companies [6] - CMI Media Group has been acknowledged for its inclusivity, talent retention, and employee development, making it one of the best workplaces in the industry [6]

坚持长期主义，与中国经济共成长，与中国汽车产业"双向奔赴"。这句话，可以看做是康明斯 入华50年的真实写照。 近日，康明斯在华50周年庆典活动在北京盛大举行。面对商用车市场的深度调整、新能源转 型的加速以及行业内卷加剧的挑战，康明斯公司全球副总裁、康明斯中国董事长石内森 （Nathan Stoner）携核心业务团队分享了公司的战略思考、技术布局与未来愿景。 康明斯如何评价在华50年的历程？康明斯又将以怎样的姿态，迈向下一个50年？请看第一商 用车网带来的分析解读。 顺应需求与技术反哺的"双向奔赴" 从1975年进入中国市场，到深度参与中国商用车产业的升级，康明斯过去的50年，可谓是中 国发动机技术进步的缩影。 "与其说是成就，不如说我们顺应了中国市场。"在石内森看来，顺应市场需求，康明斯从早期 的技术引进与生产，逐步建立起强大的本土研发能力，成为影响力巨大且真正融入中国商用车 市场的外资企业。 在中国市场能取得如此耀眼的成绩，"本土化深耕"是康明斯的核心密码。康明斯副总裁、康明 斯中国首席技术官赛俊峰（Stephen Saxby）认为，目前康明斯中国研发中心规模与协同深 度已超越欧美。"中国市场的巨大规模，为 ...

Core Viewpoint - Cummins celebrates its 50th anniversary in China, highlighting its evolution from an engine manufacturer to a diversified power solutions provider, emphasizing local partnerships and innovation in response to China's industrialization and sustainability needs [1][3][5]. Group 1: Historical Development - Cummins has been actively involved in China since 1975, starting with the application of its high-horsepower diesel engines in mining trucks [3]. - The company signed its first licensing agreement in 1981, established joint ventures and wholly-owned subsidiaries in the 1990s, and opened a research and development center in Wuhan in 2006 [3]. - Over the years, Cummins has transformed into a multi-faceted power solutions provider, deeply engaged in China's industrialization process [3][5]. Group 2: Product and Service Offerings - Cummins covers the entire industry chain, including engines, power generation, components, and new energy solutions, while providing comprehensive aftermarket support [5]. - The company has launched several significant projects in response to global energy transition and China's sustainable development needs, including advancements in emissions technology and product localization [7]. - New product platforms include a range of high-horsepower engines from 19 liters to 60 liters, and a 30-liter product specifically designed for mining applications [7]. Group 3: Technological Innovations - Cummins has developed a multi-fuel powertrain 3.0 that can utilize various low-carbon and zero-carbon fuels, including diesel, natural gas, methanol, and hydrogen [7]. - The company is also advancing its electric drive business, with plans to introduce new generation electric axles and integrated power electronics products [7]. - The aftermarket service will enhance customer support through a value upgrade service system, leveraging over 2,000 service providers and more than 5,000 certified technicians in China [7]. Group 4: Future Commitment - Cummins aims to continue deepening its presence in the Chinese market, focusing on cleaner, more efficient, and diverse power technology solutions to drive economic development and support customer success [9].