International. German commercial vehicle maker Daimler Truck will produce batteries in the U.S. with Accelera, a division of U.S. engine maker Cummins, and truck producer Paccar.
Daimler Truck said the total investment for the battery factory, which will have an annual production capacity of 21 gigawatt hours, will be between $2 billion and $3 billion.
Daimler Truck is going to create a joint venture with the US companies in which each will have a 30% stake.
In addition, Chinese battery manufacturer EVE Energy will have a 10% stake as a technology partner in the joint venture, which will focus on lithium-iron phosphate battery technology for commercial vehicles, electric and industrial applications.
