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Xinhua News Agency, Beijing, February 27 (Reporter Zhang Yi): The reporter learned from Cummins (China) Investment Co., Ltd. on the 27th that, with the rapid development of China's automobile industry, the world’s famous automobile engine giant Cummins Inc.’s turnover in China continued for three consecutive years. With a breakthrough of US$1 billion per year, China has become Cummins’ largest and fastest growing overseas market.
In 2006, Cummins's sales and profits hit new highs and maintained rapid growth for three consecutive years. The international business outside the United States accounted for 50% of the company’s overall sales for the second consecutive year. Among them, emerging markets represented by China, India and Russia performed the most.
Cummins China's sales exceeded US$1 billion for the third consecutive year, and several major projects made good progress, including the East Asia R&D Center established in cooperation with Dongfeng Corporation. It was formally launched in August last year and became the first of the foreign-invested diesel companies. R&D Center in China; Beijing Foton Cummins Engine Co., Ltd., a joint venture with Beiqi Foton, produces Cummins new-generation 2.8-liter and 3.8-liter inline four-cylinder high-pressure direct-injection light-duty diesel engines in Beijing. The products will be widely used in light trucks. In areas such as pickups, pickups, SUVs, MPV utility vehicles and small off-highway equipment, the company has officially entered the Chinese light diesel engine market with huge potential.
In 1981, Cummins began to license the production of engines in China. In 1995, Cummins' first Chinese joint venture engine factory was established. Currently, Cummins has a total of more than 20 institutions in China, including 10 wholly-owned and joint ventures, producing engines, generator sets, alternators, filters, turbochargers and exhaust systems. Eight of Cummins' fourteen engine series have been locally produced in China. Nearly a million Cummins engines have been put into use in China.
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Car engine giant Cummins has the fastest growing business in China