Cummins, Daimler, PACCAR form joint venture for US battery cell production

Daimler Truck, Accelera, and PACCAR have formed a joint venture to advance battery cell production in the United States, focusing on lithium-iron-phosphate (LFP) battery technology for commercial electric trucks, with plans to invest between $2 billion and $3 billion to set up a 21-gigawatt hour (GWh) factory.

reuters.com

Relevant topic timeline:

7/28/2023

Pro Weekly: More Plans for Battery Gigafactories

- Two proposed factories for electric vehicle batteries have been added to The Information's Gigafactory Database. - The factories include a plan by Samsung SDI and Stellantis for a battery factory in the US, and a factory proposed by Tata Group in the UK for Jaguar Land Rover. - The Gigafactory Database now tracks a total of 66 planned factories in North America and Europe. - The database also assesses which factories are likely to be built and which ones won't be. - The addition of these factories reflects the growing demand for electric vehicles and the need for battery production facilities.

8/16/2023

Tracking the EV battery factory construction boom across North America

Main topic: The onshoring of battery manufacturing for EVs in the United States. Key points: 1. The number of battery factories in the US has increased significantly, with about 30 factories either planned, under construction, or operational. 2. The Inflation Reduction Act (IRA) signed by President Joe Biden has incentivized automakers and consumers to produce batteries domestically. 3. Automakers and battery manufacturers have collectively invested close to $100 billion in building domestic cell and module manufacturing, with a capacity of over 1,200 gigawatt-hours before 2030. Hint on Elon Musk: The article mentions Tesla's plans to invest billions in expanding its Gigafactory in Nevada and producing batteries for 1.5 million light-duty vehicles annually.

8/31/2023

Hyundai’s EV plant, Georgia’s biggest jobs deal, is getting bigger

Hyundai Motor Group and LG Energy Solution are planning to invest an additional $2 billion into their electric vehicle and battery manufacturing plant in Georgia, increasing the total investment to nearly $7.6 billion and creating 400 more jobs. The investment will support the production of 300,000 electric vehicles annually and enhance battery technology for greater range and lower weight.

9/8/2023

Chinese Battery Maker Gotion to Build $2B Illinois Gigafactory, Creating Thousands of Jobs

Global EV battery developer Gotion High-Tech is investing $2 billion to build a new gigafactory in Illinois, making it the largest EV battery investment in the state's history, with the plant expected to produce 10 GWh of lithium-ion packs and 40 GWh of li-ion cells.

9/16/2023

Tech Investment Brings Hope But Mixed Results to Rust Belt Manufacturing

Honda and LG are building a battery manufacturing plant in Ohio, representing a shift towards transforming the US industrial heartland into the "Silicon Heartland" and reshoring essential technologies, although some projects have faced challenges and not materialized as planned.

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Posted 9/6/2023, 11:45:00 AM