Chinese lithium battery manufacturer EVE (Energy Very Endure) has reached an agreement to build a joint venture with Accelera by Cummins, Daimler Truck, and Paccar, through its subsidiary EVE Energy US Holding LLC, according to a September 8 report by a Chinese media outlet IThome. The four entities plan to establish a company focused on battery cell production and the battery supply chain in the United States, the report said. Accelera, Daimler Truck, and Paccar will each hold 30% of the shares, while EVE Energy will hold 10% ownership and serve as the technical partner of the joint venture, contributing its battery cell design and manufacturing know-how, according to a joint statement by the firms. Total investment for their 21-gigawatt hour factory, which will specialize in manufacturing lithium-iron-phosphate (LFP) batteries for electric commercial vehicles, is expected to be $2 billion to $3 billion, as per the statement. [IThome, in Chinese]
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