Cummins(US:CMI) Mei Ri Jing Ji Xin Wen·2025-03-31 03:46Core Viewpoint - The development of the National VI emission standards for heavy-duty vehicles in China has accelerated since 2025, aiming to align with advanced regulations in Europe and the United States, particularly focusing on heavy-duty trucks [1]. Group 1: Policy and Market Demand - The demand for new energy commercial vehicles in China is gradually increasing, with sales expected to reach 560,000 units in 2024. In the first two months of this year, sales of new energy commercial vehicles reached 79,000 units, a year-on-year increase of 51%, with a penetration rate of 17%, up from 12% in the same period last year [2]. - The National VI standards are being prioritized as commercial vehicles, especially diesel trucks, account for over 55% of carbon emissions despite only representing 12% of the total vehicle ownership in China [3]. Group 2: Company Strategies and Innovations - Cummins is actively pursuing a diversified and gradual approach to emissions reduction, focusing on transitional technologies such as hybrid powertrains and combining traditional high-power engines with electric technology to achieve approximately 20% fuel savings in operational projects [6]. - Cummins is also investing in fuel cell and hydrogen internal combustion engine components, launching various integrated power electronics products and electric drive solutions. The company anticipates a future where multiple fuel energy sources coexist in the non-road sector [7]. - Cummins emphasizes localization in its strategy in China, having established 26 production bases, 4 R&D centers, and 2 engineering centers, and is collaborating with local commercial vehicle manufacturers to provide customized solutions [9]. - The company has invested over $1 billion in China since entering the market in 1975 and plans to increase R&D investments to develop innovative products that meet the unique needs of the Chinese market while supporting carbon neutrality goals [9].