Cummins Embarrasses Tesla by Unveiling This Monstrous New Electric Big Rig
Cummins Inc. (CMI) - Get Report has unveiled plans for an electric truck, beating Tesla (TSLA) - Get Report to the punch.
Cummins late Tuesday showed off its designs revealed a fully electric class 7 demonstration Urban Hauler Tractor, adding to its portfolio of environmentally friendly engines.
The lighter, denser battery design allows it to hold a longer charge for improved range and faster charging, reducing down time. It is expected to enter production around the end of the decade, Motor Authority reported. Cummins has brought on engineering firm Rousch to help design and build the engine.
The truck is expected to have a maximum payload of 44,000 pounds, with a battery's capacity is 140 kilowatt-hours, which is enough for about 100 miles of range, making it more suitable for local deliveries. An extended-range version is also being developed with a 300-mile range thanks to a diesel engine serving as the range extender.
Cummins predicted that battery improvement could lead to a 20-minute charge time for trucks by 2020, compared to the one hour it takes now.
Tesla is expected to unveil its plans for an electric semi in September with a range of somewhere between 200 and 300 miles.
Cummins shares traded up 1% to $156.43 at midday Wednesday. Tesla shares were up 0.3% to $348.32.
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