Accelera by Cummins, Daimler Truck and PACCAR Complete Battery Joint Venture Transaction to Form Amplify Cell Technologies and Name New CEO
Accelera by Cummins, Daimler Truck, and PACCAR have formed a joint venture named Amplify Cell Technologies to localize battery cell production in the U.S. The collaboration aims to advance zero-emissions technology for electric commercial vehicles. Amplify will build a 21 GWh factory in Marshall County, Mississippi, expected to create over 2,000 U.S. manufacturing jobs and commence operations in 2027. Kel Kearns has been appointed as CEO. Each partner owns 30% of the venture, with EVE Energy holding a 10% stake and serving as the technology partner. This initiative aligns with the partners’ goals to meet sustainability needs and contribute to the Paris Climate Agreement.
- Joint venture to localize battery production in the U.S.
- Construction of a 21 GWh factory in Mississippi.
- Factory expected to create over 2,000 U.S. manufacturing jobs.
- Production operations to start in 2027.
- Kel Kearns appointed as CEO with extensive industry experience.
- Partners include Accelera by Cummins, Daimler Truck, PACCAR, and EVE Energy.
- EVE Energy brings industry-leading battery cell design expertise.
- Joint venture aims to advance zero-emissions technology for commercial vehicles.
- The initiative aligns with the Paris Climate Agreement.
- Production start delayed until 2027.
- Potential financial risks associated with the large-scale project.
- High initial investment required for the factory construction.
Amplify Cell Technologies has named Kel Kearns as the new Chief Executive Officer. Kearns will lead Amplify in producing differentiated lithium-iron-phosphate (LFP) battery cells that create value for commercial vehicle customers in
Accelera, Daimler Truck and PACCAR each own 30 percent of the business. EVE Energy serves as the technology partner with 10 percent ownership and contributes its industry-leading battery cell design and manufacturing expertise to the venture. EVE Energy is a global technology leader in the manufacture of LFP battery cells for the vehicle industry.
“Cummins’ power solutions are at the heart of the economy, and we have the responsibility to decarbonize in a way that meets our customers’ varied needs as they navigate the energy transition,” said Jennifer Rumsey, Chair and CEO, Cummins Inc. “Amplify Cell Technologies will enable Accelera by Cummins and our partners to deliver solutions that best serve our customers and the planet. This is a significant step forward as we lead our industry into the next era of smarter, cleaner power.”
“Amplify Cell Technologies will enable PACCAR to offer customers cost-effective premium quality battery electric powertrains that meet their operational and sustainability needs," said Preston Feight, PACCAR Chief Executive Officer. "We are pleased to begin this exciting venture with these world class partners.”
John O'Leary, President and CEO of Daimler Truck North America, said, “For Daimler Truck, a strict focus on costs and smart capital allocation are the key levers to succeed on the path toward truly sustainable transportation. This partnership enables economies of scale beyond Daimler Truck. It is a key puzzle piece of our battery industrialization strategy, ensuring access to the right battery cell technology at the right cost and right time for our customers.”
Accelera by Cummins, Daimler Truck and PACCAR are leading the commercial vehicle sector’s transition to zero-emissions technologies. The partners are committed to reducing carbon emissions consistent with the Paris Climate Agreement.
About Accelera™ by Cummins
Accelera by Cummins provides a diverse portfolio of zero-emissions solutions for the world’s most economically vital industries, empowering them to accelerate the transition to a sustainable future. Accelera, a business segment of Cummins Inc., is both a components supplier and integrator, focused on batteries, hydrogen fuel cells, e-axles, traction drive and electrolyzers. Accelera currently has operations in
Cummins, a global power technology leader, is a corporation of complementary business segments that design, manufacture, distribute and service a broad portfolio of power solutions. Headquartered in
To learn more about Accelera by Cummins, visit accelerazero.com.
About Daimler Truck
Daimler Truck Holding AG ("Daimler Truck") is one of the world's largest commercial vehicle manufacturers with more than 40 main locations and more than 100,000 employees worldwide. The business activities of Daimler Truck are divided into five reporting segments: Trucks North America (TN) with the truck brands Freightliner and Western Star and the school bus brand Thomas Built Buses; Trucks Asia (TA) with the commercial vehicle brands FUSO, BharatBenz and RIZON; Mercedes-Benz (MB) with the truck brand of the same name; and Daimler Buses (DB) with the bus brands Mercedes-Benz and Setra. The fifth segment is Daimler Truck Financial Services (DTFS). In addition to the sale of new and used commercial vehicles, the company also offers aftersales services and connectivity solutions and invests in advanced technologies such as zero-emissions, hydrogen, charging infrastructure and autonomous driving.
About PACCAR
PACCAR is a global technology leader in the design, manufacture and customer support of high-quality light-, medium- and heavy-duty trucks under the Kenworth, Peterbilt and DAF nameplates. PACCAR vehicles combine state-of-the-art diesel and zero-emissions powertrains with comprehensive PACCAR charging solutions and infrastructure support. PACCAR also provides financial services and information technology, and distributes truck parts related to its principal business.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240604793536/en/
Cummins Media Contact:
Jon Mills
+1-317-658-4540
jon.mills@cummins.com
Daimler Truck Media Contact:
Andrew Johnson
+1-503-799-7234
andrew.johnson@daimlertruck.com
PACCAR Media Contact:
Ken Hastings
+1-425-468-7530
ken.hastings@paccar.com
Source: PACCAR
FAQ
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