Investors and consumers have likely heard of electric cars, electric trucks and electric semis by now. One vehicle that hasn’t gotten as much attention in the U.S. is electric trains, something that Caterpillar Inc (NYSE:CAT) could soon change.
What Happened: Caterpillar is the owner of Progress Rail, a company it bought for $1 billion in 2006. Progress Rail made headlines recently for a deal for 10 electric locomotives from Union Pacific Corp (NYSE:UNP).
