Cummins Inc. CMI recently announced that through its subsidiary Meritor, it has completed the acquisition of Siemens Commercial Vehicles business, a top supplier of high-performance electric drive systems for commercial vehicles.The acquired business will report through Cummins New Power business unit.The acquisition contributes to Cummins’ capabilities in direct drive and transmission-based remote mount electric motors, inverters, software and related services, critical for the next generation of electric powertrains. The buyout will also add nearly 200 employees, primarily in Germany, China and the United States, which will expand its scope of offering global customers with a wider range of electrified product solutions across commercial vehicle applications.Cummins is enthusiastic about the acquisition and looking forward to bringing its innovation in its key technologies. The buyout also reflects another key milestone as it bolsters Cummins’ strategy to reach net-zero emissions by 2050.Cummins acquired Meritor in August 2022. The buyout positions Cummins as a leading provider of integrated powertrain solutions across internal combustion and electric power applications. The acquisition adds products to Cummins’ components business, offering attractive growth opportunities across the firm’s range of power solutions and applications. The deal augurs well for CMI’s prospects and is set to offer financial, commercial and operational synergies. The company expects Meritor to contribute $1.7-$1.9 billion in sales in 2022.Shares of CMI have gained 16.3% over a year, outperforming the industry’s 14.1% rise.Image Source: Zacks Investment ResearchZacks Rank & Key PicksCMI currently carries a Zacks Rank #3 (Hold).Here are some better-ranked players in the auto space – CarParts.com PRTS, sporting a Zacks Rank #1 (Strong Buy), and Allison Transmission Holdings ALSN and Genuine Parts Company GPC, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.CarParts has an expected earnings growth rate of 85% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised 72.7% upward over the past 30 days.Allison has an expected earnings growth rate of 26.1% for the current year. The Zacks Consensus Estimate for ALSN’s current-year earnings has been revised 0.6% upward in the past 30 days.Genuine Parts has an expected earnings growth rate of 18.1% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised 0.2% downward in the past 30 days. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Genuine Parts Company (GPC): Free Stock Analysis Report Cummins Inc. (CMI): Free Stock Analysis Report Allison Transmission Holdings, Inc. (ALSN): Free Stock Analysis Report CarParts.com, Inc. (PRTS): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research