Cummins completes joint venture formation, names CEO
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The zero-emissions business unit of Columbus-based Cummins Inc. has completed the formation of a joint venture with three other companies to produce battery cells for commercial vehicle and industrial applications.
The joint venture of Accelera by Cummins with Daimler Trucks North America in Oregon, Washington-based Paccar, and EVE Energy in Ohio was announced in September. Now called Amplify Cell Technologies, the venture will soon begin construction of a factory in Marshall County, Mississippi, with battery cell production expected to begin in 2027, Cummins said in a news release.
Cummins previously said the total investment in the factory will be $2-3 billion.
“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,” Cummins CEO Jennifer Rumsey said. “Amplify Cell Technologies will enable Accelera by Cummins and our partners to advance battery cells focused on commercial and industrial applications in North America and serve our customers’ evolving needs. This is a significant step forward as we continue leading our industry into the next era of smarter, cleaner power.”
Amplify Cell Technologies initially will focus on the production of lithium-iron-phosphate, or LFP, batteries for commercial trucks. The LFP battery cells are expected to have a lower cost, longer life and enhanced safety over lithium-ion batteries based on nickel and cobalt raw materials that are used in passenger vehicles.
Cummins also announced Kel Kearns has been named CEO of the joint venture.
His career includes nearly three decades with Ford Motor Co., according to his LinkedIn profile, where he most recently was focused on large-scale production of electric vehicles.
Accelera by Cummins will have an equal 30% share in the joint venture with Daimler Trucks and Paccar. EVE Energy will have a 10% share. Daimler Trucks is one of the world’s largest commercial vehicle manufacturers. Paccar designs and manufactures heavy-duty trucks under the Kenworth, Peterbilt and DAF brands. EVE Energy designs and manufactures battery cells.