PACCAR, Accelera, Daimler, EVE Energy Seek CFIUS Approval to Open Joint Battery Factory in U.S.

PACCAR, along with Accelera by Cummins, Daimler Trucks & Buses US Holding, and EVE Energy agreed on Sept. 6 to form a joint venture company to establish and operate a battery cell manufacturing facility in the U.S., and plan to submit a voluntary notice to the Committee on Foreign Investment in the U.S., according to law firm Squire Patton. The total investment in the facility is expected to be between $2 billion and $3 billion, PACCAR said in a Sept. 7 news release.