Major Truck Manufacturers Launch $2-3 Billion Battery Cell Venture for Electric Vehicles
Three major truck and engine manufacturers, including Accelera by Cummins, Daimler Trucks & Buses US Holding LLC, and Paccar, have initiated a joint venture worth an estimated $2 to $3 billion to produce battery cells in the United States. The project aims to address the growing demand for electric commercial vehicles and industrial applications while creating jobs in the clean technology sector.
The partnership, which also involves Chinese firm EVE Energy, plans to build a 21-gigawatt-hour (GWh) factory, focusing initially on lithium-iron-phosphate (LFP) battery technology for commercial electric trucks. This move is expected to result in cost-effective, long-lasting, and safer batteries without the need for nickel and cobalt raw materials, enabling large-scale production.
House lawmakers have passed the Mail Traffic Deaths Reporting Act of 2024, directing the U.S. Postal Service to create new rules for tracking crashes involving its trucking contractors.