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Daimler, Cummins and Paccar Partner on EV Battery Plant

September 6, 2023

Daimler Truck Holding, Accelera by Cummins and Paccar are forming a joint venture to build a battery plant in the U.S. to help accelerate production of electric trucks.

The factory is expected to cost between $2 billion and $3 billion to supply 21 gigawatt hours of power, the companies said Sept. 6 in a statement. China’s EVE Energy Co. will serve as technology partner.

The three entities will hold 30% each in the venture, with EVE holding the remaining 10%, according to a statement.

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