Cummins, Daimler, PACCAR form joint venture

Accelera, a zero-emissions business unit of Cummins, Daimler Trucks & Buses US Holding, and PACCAR formed a joint venture to advance battery cell production in the United States. Daimler Truck, Accelera, and PACCAR will each own 30% of the joint venture, which will initially focus on LFP battery technology family for commercial battery-electric trucks. The companies, which expect to see growing demand for their battery technology through the decade, added they expect to invest between $2 billion and $3 billion to set up a 21-gigawatt hour (GWh) factory to manufacture LFP battery cells.