(Reuters) -Accelera, a zero-emissions business unit of Cummins, Daimler Trucks & Buses US Holding and PACCAR said on Wednesday they formed a joint venture to advance battery cell production in the United States.
Daimler Truck, Accelera and PACCAR will each own 30% of the joint venture, which will initially focus on the lithium-iron-phosphate (LFP) battery technology family for commercial battery-electric trucks.
The companies said they expect to invest between $2 billion and $3 billion to set up a 21-gigawatt hour (GWh) factory to manufacture LFP battery cells.
LFP battery-cell maker EVE Energy will also serve as the technology partner in the joint venture with 10% ownership.
(Reporting by Nathan Gomes in Bengaluru; Editing by Krishna Chandra Eluri)
