PACCAR, Cummins, Daimler Truck form JV for US battery cell factory; $2-3B investment

PACCAR INC

Accelera by Cummins, Daimler Truck, PACCAR each own 30%; EVE Energy owns 10% as technology partner.
Total investment $2-3 billion for a 21 GWh LFP battery cell manufacturing facility in the US.
Joint venture to produce battery cells for electric commercial vehicles and industrial applications.
Transaction subject to customary closing conditions and regulatory approvals, including CFIUS review.

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