Daimler Trucks, Accelera by Cummins, and truck maker PACCAR broke ground on a huge battery cell factory for electric trucks in Mississippi.

July 2, 2024, update: The joint venture is called Amplify Cell Technologies, and it’s building a 2 million-square-foot, energy-efficient factory on a 500-acre site to produce lithium-iron-phosphate (LFP) battery cells. It will have an annual manufacturing capacity of 21 gigawatt hours (GWh), and Amplify plans to begin battery cell production in 2027.

Mississippi’s Republican governor, Tate Reeves, celebrated the factory’s groundbreaking, catalyzed by and will benefit from President Biden’s Inflation Reduction Act. Reeves said:

This project is the largest payroll commitment in state history, and it will bring an incredible 2,000 new jobs to this community. This fantastic investment from these industry leaders will help to further charge Mississippi’s electric economy.

January 18, 2024: The factory will be in Marshall County, Mississippi, southeast of Memphis. The joint venture’s factory will localize battery cell production for commercial electric trucks. It’s expected to create more than 2,000 US manufacturing jobs.

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.

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 will 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.

Read more: Uber Freight and Greenlane team up to electrify America’s trucking routes

Photo: 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*

Hyundai is showing no signs of slowing down in the US EV market after a record-breaking second quarter. The Hyundai IONIQ 5 and IONIQ 6 both set new Q2 sales records as demand for long-range EVs at an affordable price continues to climb in the US.

Hyundai IONIQ 5 tops Q2 sales record in the US

After setting a new May sales record, Hyundai’s electric SUV continued its hot streak last month. Hyundai sold 3,755 IONIQ 5 models in the US last month (+20% YOY), a new June record.

Although it’s down slightly from the 4,449 sold in May, the growth was enough to push Hyundai’s IONIQ 5 to a new Q2 sales record. Hyundai sold 11,906 IONIQ 5s in the second quarter of 2024, up 51% from the 7,905 handed over at this time last year.

Hyundai has now sold 18,728 IONIQ 5 models through the first half of 2024, an increase of 37% over last year.

The IONIQ 5 wasn’t Hyundai’s only EV with a new sales record. With 3,266 models sold (+8% YOY), Hyundai’s IONIQ 6 also set a new Q2 sales record. Hyundai’s overall EV sales climbed 15% in Q2.

.

The news comes after Kia set a new Q2 EV sales record as demand for its three-row EV9 and low-cost EV6 continues climbing.

Hyundai Motor America CEO Randy Parker said the strong demand for the IONIQ 5 helped drive growth in Q2.

In a recent interview with Electrek, Parker told us Hyundai is “humble and hungry” to distance itself from the EV pack and close the gap with Tesla.

Parker explained that Hyundai is giving buyers confidence to go electric with long-range, fast-charging EVs at an affordable price. Hyundai has six of the top ten most fuel-efficient EVs in the US this year by trim.

Meanwhile, the 2024 IONIQ 5 is now more affordable to lease than the cheapest car in the US.

Although the Nissan Versa starts at under $18,000, the IONIQ 5 is cheaper to lease at $229 per month for 24 months. And that’s for the 2024 Hyundai IONIQ 5 SEL RWD with up to 303 miles range.

If you’re in the market for a new EV, there’s never been a better time to start shopping. You can use our links below to view deals on Hyundai’s EVs at a dealer near you.

China’s BYD has found a new EV leasing partner in Europe as it expands overseas. BYD signed a deal with leading car leasing firm Ayvens to distribute its vehicles across Europe.

BYD finds new EV leasing partner for Europe

BYD’s executive vice president, Stella Li, signed the Memorandum of Understanding (MoU) Tuesday as the EV maker expands outside of China.

Wang Chuanfu, BYD’s president and chairman, said the deal with Ayvens “reflects our mutual vision to accelerate the development of NEV markets in Europe.” The partnership will help support the distribution of BYD’s electric cars to European commercial and retail buyers.

Through the agreement, Ayvens clients will have access to BYD’s full range of EVs. Customers also receive tailored fleet solutions, including EV leases and end-to-end charging services.

Operational leasing services will be first rolled out in France, the Netherlands, Belgium, and Luxembourg, with new markets planned.

BYD’s new EV leasing deal comes as Europe plans to introduce new tariffs on Chinese EV imports. Despite this, BYD expects to overcome it, with some models being more profitable in the EU than in China anyway.

BYD has launched seven new models across Europe: The Tang, Han, Atto 3, Dolphin, Seal, Seal U, and Seal U DM-i.

After selling 426,039 pure electric cars in the second quarter of 2024, BYD was slightly behind Tesla with 443,956 deliveries for the global EV leader title.

BYD is expanding in key overseas markets outside Europe, like South Korea, Central and South America, Thailand, and Australia.

Although BYD is best known for its low-cost EVs like the Dolphin, Atto 3, Seal, and Seagull, it’s quickly building its lineup with luxury vehicles, pickups, and electric supercars.

BYD’s +1,200 hp Yangwang U9 electric supercar was spotted racing around the Nurburgring last week. The new EV sports car is aimed at brands like Ferrari and Lamborghini (see the video here).