US-China Consortium Eyes Batteries

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In the latest signal that battery production is growing more geographically diverse, Chinese electric vehicle battery manufacturer Eve Energy says it will set up a joint venture (JV) in the US with three American companies — Electrified Power, Daimler Trucks and Buses US and Paccar — with an investment cap of $2.64 billion. The partners will focus on producing lithium-iron-phosphate batteries for commercial battery-electric trucks in North America, with an annual capacity of 21 GWh. The three American companies also plan to purchase all or most of the products produced via the JV.

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