A $2-3B battery factory for electric trucks is coming to the US


Daimler, Cummins, and PACCAR are forming a joint venture to manufacture battery cells in the US for commercial electric trucks.

The joint venture – which consists of Accelera, the zero-emissions business unit of Cummins; Daimler Trucks & Buses; and large commercial truck maker PACCAR – will build battery cells for commercial electric trucks. Each company will own 30% of the joint venture.

The total investment is expected to be in the range of $2-3 billion for the 21-gigawatt hour (GWh) factory, and the initial focus will be on lithium-iron-phosphate (LFP) battery technology.

China-based EVE Energy, which manufactures LFP battery cells for EVs, will be the technology partner in the joint venture, with 10% ownership. It’s going to bring its battery cell design and “manufacturing know-how” to the table.

Daimler asserts in its announcement that the LFP battery cells produced by the joint venture will be able to offer lower cost, longer life, and enhanced safety without the need for nickel and cobalt raw materials.

The companies assert that the joint venture enables them to create the scale needed for cost-effective EV batteries, “ultimately creating value for commercial vehicle customers in North America.”

Martin Daum, CEO of Daimler Truck said, “For Daimler Truck, partnerships and a strict focus on costs and smart capital allocation are the key levers to succeed on the path toward sustainable transportation. This planned joint venture enables economies of scale beyond Daimler Truck. It is a key puzzle piece of our battery industrialization strategy, ensuring access to the right battery cell technology at the right cost.”

The companies have not yet announced the EV battery factory’s timeline, nor where in the US the facility will be sited.

Read more: Michigan is building a trailblazing electric truck stop with Daimler, DTE

Photo: Daimler Trucks

If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here. –ad*

Articles You May Like

Factories warn of damaging ‘potent cocktail’ as output slows
Tory London mayoral candidate liked tweets praising Enoch Powell
NBA board OK’s tougher resting policy, penalties
Oil prices are at 10-month highs. Here’s what Cramer thinks it means for two energy stocks
ISRO’s Aditya-L1 Solar Mission Begins Collecting Scientific Data in Earth’s Orbit