All articles tagged with #paccar
Shares of Paccar, owner of Peterbilt and Kenworth, rose about 5% after President Trump announced a 25% tariff on imported heavy trucks, aiming to protect domestic manufacturers from foreign competition.
Cummins, Daimler Trucks & Buses US Holding, and PACCAR have formed a joint venture called Accelera to advance battery cell production in the United States. The joint venture, in which each company will own a 30% stake, aims to focus on lithium-iron-phosphate (LFP) battery technology for commercial battery-electric trucks. They plan to invest between $2 billion and $3 billion to set up a 21-gigawatt hour (GWh) factory for manufacturing LFP battery cells. LFP battery cells were developed in the US, but Chinese companies currently dominate global production.