Daimler Trucks, Accelera by Cummins, and truck maker PACCAR will build a huge battery cell factory for electric trucks in Mississippi.
The companies have selected Marshall County, Mississippi, southeast of Memphis, for the joint venture’s factory, which will localize battery cell production for commercial electric trucks. It’s expected to create more than 2,000 US manufacturing jobs. The 21-gigawatt hour (GWh) factory is scheduled to begin producing battery cells in 2027.
The joint venture between Accelera by Cummins, Daimler Truck, and PACCAR – which manufactures light-, medium-, and heavy-duty trucks under the Kenworth, Peterbilt, and DAF nameplates – was announced in September 2023.
The total investment is expected to be in the range of $2-3 billion for the factory, and the initial focus will be on lithium-iron-phosphate (LFP) battery technology.
Daimler asserts that the LFP battery cells they produce will offer lower cost, longer life, and enhanced safety without the need for nickel and cobalt.
Each company will own 30% of the joint venture. China-based EVE Energy, which manufactures LFP battery cells for EVs, will be the technology partner in the joint venture, with 10% ownership. It’s going to bring its battery cell design and “manufacturing know-how” to the table.
The companies say the joint venture enables them to create the scale needed for cost-effective EV batteries, “ultimately creating value for commercial vehicle customers in North America.”
“Localized battery cell production is an important component of delivering our customers – the fleets that keep America and the world moving – cost-effective options for decarbonizing their operations,” said John O’Leary, president and CEO of Daimler Truck North America.
To limit power outages and make your home more resilient, consider going solar with a battery storage system. In order to find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and you share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. – ad*
FTC: We use income earning auto affiliate links.More.
Tesla has wiped off the 26,000 miles on the odometer of a Cybertruck in service, scratched the vehicle, and then returned it to the owner like nothing happened.
A Tesla Cybertruck owner in Oregon was quite surprised when he went to pick up his Cybertruck, which was in service to install a new lightbar, fix some panel gaps, and figure out an ABS alert that wouldn’t go away.
According to a thread on the Cybertruck Owners Club, Tesla had wiped the odometer clean on the Foundation Series ‘Cyberbeast’, which had over 26,000 miles on it.
The owner shared a video of the Cybertruck’s odometer going from 0 to 1 mile for the second time:
Advertisement – scroll for more content
The odometer on the vehicle was wiped and both the app and service many also showed the same mileage.
The owner shared a screenshot of the app after 15 miles:
He went to the online forum for advice:
Anyone else have their odometer Thanos-snapped after a controller swap? Can Tesla unsnap it or am I forever “True Mileage Unknown”?
It was not the only surprise from this service visit for this Cybertruck owner.
The owner was not satisfied with the lightbar installation, which he claims has a half-inch gap on the passenger side while it is flush on the driver side. He wrote:
It’s basically smiling sideways at everyone.
It’s also unclear why Tesla was messing with the vehicle’s tailgate, but it ended up having a bolt moving around it, causing scratches and Tesla left a bolt unbolted:
At this point, the truck was returned with more problems than it had when it entered service.
FTC: We use income earning auto affiliate links.More.
Ray Dalio, founder of Bridgewater Associates LP, speaks during the Greenwich Economic Forum in Greenwich, Connecticut, US, on Tuesday, Oct. 3, 2023.
Bloomberg | Bloomberg | Getty Images
Bridgewater Associates founder and billionaire Ray Dalio warned Monday that Moody’s downgrade of the U.S. sovereign credit rating understates the threat to U.S. Treasuries, saying the credit agency isn’t taking into account the risk of the federal government simply printing money to pay its debt.
“You should know that credit ratings understate credit risks because they only rate the risk of the government not paying its debt,” Dalio said in a post on social media platform X.
“They don’t include the greater risk that the countries in debt will print money to pay their debts thus causing holders of the bonds to suffer losses from the decreased value of the money they’re getting (rather than from the decreased quantity of money they’re getting),” the Bridgewater founder said.
Moody’s on Friday cut the U.S. credit rating one notch to Aa1 from Aaa, citing the federal government’s ballooning budget deficit and soaring interst payments on the debt. It was the last of the three major credit agencies to downgrade the U.S. from the highest possible rating.
U.S. stocks fell on Monday as the 30-year Treasury bond yield jumped to 4.995% and the 10-year note yield climbed to 4.521% in response to Moody’s downgrade.
“Said differently, for those who care about the value of their money, the risks for U.S. government debt are greater than the rating agencies are conveying,” Dalio said.
Bridgewater’s assets under management dropped 18% in 2024 to some $92 billion, Reuters reported in March, down from a recent peak of $150 billion in 2021.
Nissan is on the brink of collapsing. After the Honda deal fell through, it looks like another Japanese automaker is tossing it a lifeline. As Nissan struggles to stay afloat, Toyota is emerging as a potential “backer” in a new tie-up.
Are Toyota and Nissan partnering?
“If we don’t take action now, the situation will only get worse,” Nissan’s President, Ivan Espinosa, said during a press conference on May 13.
Facing falling sales, ballooning debt, and slumping profits, Nissan introduced a new recovery plan last week, “Re:Nissan.” The struggling automaker aims to cut costs by 250 billion yen to return to profitability by FY 2026.
As part of its efforts to turn the business around, Nissan will cut 20,000 jobs by FY2027. It’s also abandoning plans to build a new EV battery facility in Japan. Seven other plants will be closed, including one in Thailand and two in Japan.
Advertisement – scroll for more content
After its planned EV merger with Honda fell through in February, rumours surfaced that Nissan was scrambling to find another partner.
(Source: Nissan)
According to a new report from Japan’s MainiChi, a Toyota executive recently reached out to Nissan about a potential partnership. The tie-up could involve Toyota acting as Nissan’s “backer” to support it while it restructures.
Nissan and Toyota both unveiled a wave of new electric vehicles set to roll out over the next few years. The upgraded Nissan LEAF EV will arrive in the US and Canada later this year with more range, an NACS port, and a new crossover style. It will be one of ten new Nissan or Infiniti models to arrive by 2027.
Nissan’s upcoming lineup for the US, including the new LEAF EV and “Adventure Focused” SUV (Source: Nissan)
In Europe, Nissan will launch the next-gen LEAF later this year, followed by the new Micra EV and Qashqai electric crossover. In 2026, the new Nissan Juke EV will join the lineup.
Nissan’s lineup for Europe. From left to right: The new Nissan Qashqai, LEAF, and Micra EV (Source: Nissan)
Meanwhile, Toyota’s upgraded bZ electric SUV (formerly the “bZ4X”) will arrive at US dealerships in the second half of 2025.
Toyota already has a stake in several Japanese automakers, including Subaru (20%), Mazda (5.1%), Suzuki (4.6%), and Isuzu (5.9%), so backing Nissan wouldn’t come as a shock.
Espinosa said Nissan was open to new partnerships. Nissan’s chief said the company will continue collaborating with others, including Mitsubishi, which will use the upcoming LEAF as the basis for its new EV for North America.
Japanese carmakers have been notoriously slow in shifting to all-electric vehicles, which is now costing them in key overseas markets like Southeast Asia, Central and South America, and others.
Chinese EV leaders, like BYD, are quickly expanding overseas to drive growth this year. Next year, it will launch its first kei car (see the first spy shots), or mini EV, which is already being called “a huge threat” to Japan.
Pooling resources and teaming up may be the best (or only) option at this point. Can Toyota help Nissan turn things around? Or will it be too little, too late? Let us know your thoughts in the comments.
Check back soon for details. This is a developing story. We’ll keep you updated with the latest.
FTC: We use income earning auto affiliate links.More.