A joint venture between Daimler Trucks, Accelera by Cummins, and truck maker PACCAR will build a 21-gigawatt-hour battery cell factory for electric trucks in Marshall County, Mississippi. The total investment is expected to be between $2-3 billion. Construction is set to begin in 2024, with production starting in 2027. The goal is to create over 2,000 US manufacturing jobs and locally produce batteries to enable cost-effective electric trucks for customers in North America. The factory will initially focus on lithium-iron-phosphate battery technology to offer lower costs, longer life, and enhanced safety compared to batteries using nickel and cobalt.
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00:00 It's Benzinga and here's what's on the block.
00:02 A joint venture between Daimler Trucks, Accelera by Cummins, and truck maker PACCAR will build a
00:07 21 gigawatt-hour battery cell factory for electric trucks in Marshall County, Mississippi. The total
00:12 investment is expected to be between $2 to $3 billion. Construction is set to begin in 2024,
00:17 with production starting in 2027. The goal is to create over 2,000 U.S. manufacturing jobs and
00:22 locally produced batteries to enable cost-effective electric trucks for customers in North America.
00:27 The factory will initially focus on lithium-iron phosphate battery technology to offer lower costs,
00:32 longer life, and enhanced safety compared to batteries using nickel and cobalt.
00:36 Each company will own 30% of the joint venture, with China-based EVE Energy owning 10%
00:40 and providing the battery cell design and manufacturing expertise.
00:44 For all things money, visit Benzinga.com.
00:46 Ciao.