In September, Accelera, a zero-emissions business unit of Cummins, Daimler Trucks, and PACCAR announced that they had formed a joint venture to manufacture lithium-iron-phosphate (LFP) batteries in the United States.
Daimler, Accelera and PACCAR will each own 30 percent of the joint venture, which will initially focus on LFP technology for battery-electric commercial trucks. The joint venture will invest as much as $3 billion to build the new factory, which is expected to create enough batteries to power 80,000 medium-duty trucks a year or 40,000 electric buses.