Big Board Alerts

A $2-3 billion battery factory for electric trucks is headed to Mississippi

Daimler Trucks, Accelera by Cummins, and truck maker PACCAR will build a huge battery cell factory for electric trucks in Mississippi.

The companies have selected Marshall County, Mississippi, southeast of Memphis, for the joint venture’s factory, which will localize battery cell production for commercial electric trucks. It’s expected to create more than 2,000 US manufacturing jobs. The 21-gigawatt hour (GWh) factory is scheduled to begin producing battery cells in 2027.

The joint venture between Accelera by Cummins, Daimler Truck, and PACCAR – which manufactures light-, medium-, and heavy-duty trucks under the Kenworth, Peterbilt, and DAF nameplates – was announced in September 2023.

The total investment is expected to be in the range of $2-3 billion for the factory, and the initial focus will be on lithium-iron-phosphate (LFP) battery technology.

Daimler asserts that the LFP battery cells they produce will offer lower cost, longer life, and enhanced safety without the need for nickel and cobalt.

Each company will own 30% of the joint venture. China-based EVE Energy, which manufactures LFP battery cells for EVs, will be the technology partner in the joint venture, with 10% ownership. It’s going to bring its battery cell design and “manufacturing know-how” to the table.

The companies say the joint venture enables them to create the scale needed for cost-effective EV batteries, “ultimately creating value for commercial vehicle customers in North America.”

“Localized battery cell production is an important component of delivering our customers – the fleets that keep America and the world moving – cost-effective options for decarbonizing their operations,” said John O’Leary, president and CEO of Daimler Truck North America.

 

Latest Articles

DON’T MISS THE OPPORTUNITY TO JOIN OUR MARKET SUMMARY REPORT FOR A LIMITED TIME

By submitting this form on our website, you agree that we may collect and use your personal information for marketing, and for other purposes as set forth in our privacy policy, which we encourage you to review.