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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.
