From NASDAQ.:

Cummins, PACCAR and Daimler Truck AG have decided to build a battery cell manufacturing plant in Marshall County, MS. The three companies are expected to invest $2-$3 billion in the project. The purpose of this joint venture is to localize the production of battery cells for commercial electric vehicles. It is also expected to create over 2,000 manufacturing jobs in the U.S.

The joint venture will focus on lithium-iron-phosphate battery technology for commercial battery-electric trucks. The battery will be safer, more durable, and less expensive to produce than other battery chemistries. The goal is to reduce carbon emissions in line with the Paris Climate Agreement. EVE Energy will be a key partner in this venture, contributing its battery cell design and manufacturing expertise.

Ferrari and Toyota are some of the top-ranked players in the auto space. It is anticipated that their 2024 sales and earnings will experience significant growth. The Zacks Consensus Estimate for these companies indicates a positive trend in their EPS estimates.

A massive infrastructure investment is about to take place in the U.S. Trillions of dollars will be spent to enhance roads, bridges, and buildings. Additionally, there will be a huge demand for related services for cargo hauling and energy transformation. A Special Report has been released by Zacks Investment Research to help investors identify the best opportunities in this area.



Read more: Cummins (CMI) & Partners Set Sights on Mississippi for Battery JV