The Recreation Vehicle Industry Association commissioned an Economic Impact Study on the RV industry, released on June 7, 2016. The study found that the RV industry contributes about $49.7 billion in economic output or 0.28 percent of the Gross Domestic Product. Through its production and distribution linkages, the industry impacts firms in 426 of the 440 sectors of the United States economy.
Nationwide, the industry is responsible for 216,170 jobs, both directly and inderectly, creating an economic impact of $37.5 billion. The full study results, along with each individual state and congressional district's economic impact is available on the website by clicking here .
Wed Jan 31, 2018
Cummins Inc. is apparently doubling down on electric power solutions with the acquisition of a firm specializing in automotive battery systems for electric and hybrid vehicles, according to information from the Indianapolis, Indiana-based engine maker.
Cummins bought Johnson Matthey’s UK, a subsidiary of Johnson Matthey that specializes in high-voltage automotive grade battery systems, and agreed to collaborate with the parent company on the development of high-energy battery materials for commercial heavy-duty applications, according to a Cummins press release.
Citing the benefit to both companies, the release notes the acquisition allows Cummins to expand its electrification and energy storage capabilities in its efforts to be a global leader in electrified power. Meanwhile, Johnson Matthey will be able to focus on developing new high-energy battery materials, such as its enhanced lithium nickel oxide (eLNO) platform.
“The addition of Johnson Matthey Battery Systems’ technical expertise and customer base in markets that are more rapidly adopting electrification further positions us as a global energy storage supplier,” says Tom Linebarger, chairman and CEO of Cummins Inc. “By combining our electrification capabilities, portfolio of diverse power solutions, and global network, Cummins is uniquely positioned to lead in electrification. What differentiates us is our ability to help customers succeed with high-quality products across the spectrum of power solutions they use, whether it’s electric, diesel, natural gas or other energy solutions.”
Robert MacLeod, the chief executive of Johnson Matthey says it is also an important step for his firm, one of Europe’s largest lithium-ion battery system suppliers. The subsidiary business sold has 50 employees and is based in Milton Keynes, United Kingdom.
“It will enable us to grow our position in high-energy battery materials, particularly for heavy-duty applications, and apply our chemistry expertise to develop new products that will give our customers, and ultimately consumers, the performance they demand from electrically powered vehicles,” Matthey said. “In divesting our automotive battery systems business to Cummins we can focus on our strategy of expanding our eLNO platform and developing commercial battery materials for the full range of transport applications.”
In October 2017, Cummins announced the acquisition of Brammo, which is known for designing and developing low-voltage battery packs for mobile and stationary applications. With the addition of Johnson Matthey Battery Systems high-voltage battery expertise, Cummins now has capability across the entire range of energy storage options.
The acquisition was signed and closed on January 31. Cummins will continue to explore other opportunities to add electrification capabilities as it prepares for delivery of electrified powertrains to customers in 2019.