Written by Kfir Kedem – June 06, 2022
Reviewed by Asaf Kedem
Darwinism is the theory that describes evolution through natural selection – or in other words – survival of the fittest. The automotive market is challenging its players to evolve in order to survive. Companies have few options and have to either continuously innovate or acquire innovators.
Meritor is a Fortune 500 company and has been producing automotive components successfully for decades. Some of these components include axles, transmissions, and suspension systems. In order to keep up with the market, Meritor has purchased Siemens Commercial Vehicles Business. This division of Siemens produces electric propulsion systems for trucks, buses, and construction vehicles. The acquisition will cost Meritor €190 million and will be done by 2023.
Auto Trendy’s take:
In February, news also came out about Cummins acquiring Meritor. The acquisition of Siemens Commercial Vehicle Business will only further strengthen Cummins’ position in the market. It is already a key player in the commercial vehicle industry and with these acquisitions, it is becoming even more powerful.