Cummins (CMI) and Ansys (ANSS) said Thursday they were extending a long-standing collaboration agreement to develop new diesel, natural gas and electric powertrains using Anys' industrial simulation software and artificial intelligence applications to verify product designs.
Financial terms and other details were not disclosed but the companies said the ongoing collaboration would focus on Cummins' Destination Zero initiative to develop new zero-emission engines and related equipment.
Cummins shares were fractionally lower in morning trade while Anys shares were down more than 4%.
Price: 376.72, Change: -1.62, Percent Change: -0.43
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