Byhalia, Mississippi, USA – July 5^th, 2024 – Amplify Cell Technologies, a joint venture between Accelera™ by Cummins, the zero-emissions business unit of Cummins Inc. [NYSE: CMI], Daimler Trucks & Buses US Holding LLC [a Daimler Truck Group Company; DAX: DTR0CK; “Daimler Truck”] and PACCAR [NASDAQ: PCAR], recently broke ground at its new battery cell manufacturing plant in Marshall County, Mississippi.

The 500-acre site will be home to a two million-square-foot, energy efficient facility with an annual manufacturing capacity of 21-gigawatt hours (GWh) for the production of lithium-ironphosphate (LFP) battery cells. Amplify plans to begin battery cell production in 2027 and is expected to create more than 2,000 U.S. manufacturing jobs.

“I am thrilled to be here with so many of our partners to break ground on this new battery cell manufacturing facility in Marshall County,” said Kel Kearns, CEO of Amplify. “United in the mission to decarbonize our highways and interstates, our founding partners are making a serious commitment. Marking the start of construction on site signifies this collective effort, and together we will lead the transformation of the commercial transportation industry.”

Leaders from Accelera, Daimler and PACCAR were joined by State of Mississippi Governor Tate Reeves, U.S. Senator Cindy Hyde-Smith, and local officials to celebrate the groundbreaking.  

The new facility will produce LFP battery cells, a cell chemistry chosen for its durability and cost-effectiveness. This initiative will localize the battery supply chain, making it more robust and responsive to the needs of the growing electric commercial vehicle market in North America.

Accelera by Cummins, Daimler Truck and PACCAR have committed a combined $2 to $3 billion investment in this joint venture and each own 30 percent of Amplify Cell Technologies. 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. The partners are committed to leading the commercial vehicle industry’s transition to zero emissions technologies and reducing carbon emissions consistent with the Paris Climate Agreement.

About Amplify Cell Technologies

Amplify Cell Technologies, a joint venture between Accelera™ by Cummins, Daimler Trucks & Buses US Holding LLC, and PACCAR with EVE Energy as technology partner, is localizing battery cell production and the battery supply chain in the United States through the production of lithium-iron-phosphate (LFP) battery cells for electric commercial vehicles and industrial applications.

Located in Marshall County, Mississippi, Amplify’s two million-square-foot facility will have an annual manufacturing capacity of 21-gigawatt hours. Amplify plans to begin battery cell production in 2027 and is expected to create more than 2,000 U.S. manufacturing jobs.

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 motors and inverters, integrated powertrain solutions, and electrolyzers. Accelera currently has operations in North America, across Europe and in China.

Cummins, a global power solutions leader, is a corporation of complementary business segments that design, manufacture, distribute and service a broad portfolio of power solutions. Headquartered in Columbus, Indiana (U.S.), Cummins employs approximately 75,500 people committed to powering a more prosperous world. It operates a robust distribution and support network in more than 190 countries and territories. Cummins earned about $735 million on sales of $34.1 billion in 2023.

To learn more about Accelera by Cummins, visit accelerazero.com.

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.