Byhalia, Mississippi –  July 1, 2024 – Amplify Cell Technologies, a joint venture between Accelera™ by Cummins, the zero-emissions business unit of Cummins Inc. [NYSE: CMI], Daimler Trucks & Buses US Holding LLC [a Daimler Truck Group Company; DAX: DTR0CK; “Daimler Truck”] and PACCAR [NASDAQ: PCAR], recently broke ground at its new battery cell manufact uring plant in Marshall County, Mississippi.

The 500-acre site will be home to a two million-square-foot, energy efficient facility with an annual manufacturing capacity of 21-gigawatt hours (GWh) for the production of lithium-ironphosphate (LFP) battery cells. Amplify plans to begin battery cell production in 2027 and is expected to create more than 2,000 U.S. manufacturing jobs.

“I am thrilled to be here with so many of our partners to break ground on this new battery cell  manufacturing facility in Marshall County,” said Kel Kearns, CEO of Amplify. “United in the mission to decarbonize our highways and interstates, our founding p artners are making a serious commitment. Marking the start of construction on site signifies this collective effort, and together we will lead the transformation of the commercial transportation industry.”

Leaders from Accelera, Daimler and PACCAR were joined by State of Mississippi Governor

Tate Reeves, U.S. Senator Cindy Hyde-Smith, and local officials to celebrate the groundbreaking.

“Mississippi is incredibly excited to welcome this historic private sector investment from the

new joint venture between Accelera by Cummins, Daimler Truck, and PACCAR,” said

Governor Tate Reeves. “This project is the largest payroll commitment in state hi story, 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.”

“As the transportation industry evolves and energy demands grow, it’s crucial that we have

American facilities producing the materials and technologies necessary to meet those

needs. This joint venture is not only a major job booster for Mississippi, but sets an example

for future endeavors in the transportation industry. I am thrilled to see this project take off, as

it will increase competition in the market, boost the local economy, and provide jobs for our

state,” said Senator Hyde-Smith.

“This project will change thousands of lives in North Mississippi,” Senator Roger Wicker added. “Major development decisions are never made lightly, but Mississippi was chosen for this investment for a reason. Our business-friendly climate is attracting investment at a record level. I expect this trend to continue and look forward to more economic development groundbreaking ceremonies in our state.”

The new facility will produce LFP battery cells, a cell chemistry chosen for its durability and

cost-effectiveness. This initiative will localize the battery supply chain, making it more robust

and responsive to the needs of the growing electric commercial vehicle market in North

America.

Accelera by Cummins, Daimler Truck and PACCAR have committed a combined $2 to $3

billion investment in this joint venture and each own 30 percent of Amplify Cell Technologies.

EVE Energy serves as the technology partner with 10 percent ownership and contributes its

industry-leading battery cell design and manufacturing expertise to the venture. EVE Energy

is a global technology leader in the manufacture of LFP battery cells for the vehicle industry.

The partners are committed to leading the commercial vehicle industry’s transition to zeroemissions technologies and reducing carbon emissions consistent with the Paris Climate

Agreement.

About Amplify Cell Technologies

Amplify Cell Technologies, a joint venture between Accelera™ by Cummins, Daimler Trucks

& Buses US Holding LLC, and PACCAR with EVE Energy as technology partner, is localizing

battery cell production and the battery supply chain in the United States through the

production of lithium-iron-phosphate (LFP) battery cells for electric commercial vehicles and

industrial applications.

Located in Marshall County, Mississippi, Amplify’s two million-square-foot facility will have an annual manufacturing capacity of 21-gigawatt hours. Amplify plans to begin battery cell

production in 2027 and is expected to create more than 2,000 U.S. manufacturing jobs.

About Accelera™ by Cummins

Accelera by Cummins provides a diverse portfolio of zero-emissions solutions for the world’s

most economically vital industries, empowering them to accelerate the transition to a

sustainable future. Accelera, a business segment of Cummins Inc., is both a components

supplier and integrator, focused on batteries, hydrogen fuel cells, e-axles, traction motors

and inverters, integrated powertrain solutions, and electrolyzers. Accelera currently has

operations in North America, across Europe and in China.

Cummins, a global power solutions leader, is a corporation of complementary business

segments that design, manufacture, distribute and service a broad portfolio of power

solutions. Headquartered in Columbus, Indiana (U.S.), Cummins employs approximately

75,500 people committed to powering a more prosperous world. It operates a robust

distribution and support network in more than 190 countries and territories. Cummins earned

about $735 million on sales of $34.1 billion in 2023.

To learn more about Accelera by Cummins, visit accelerazero.com.

About Daimler Truck

Daimler Truck Holding AG (“Daimler Truck”) is one of the world’s largest commercial vehicle

manufacturers with more than 40 main locations and more than 100,000 employees

worldwide. The business activities of Daimler Truck are divided into five reporting segments:

Trucks North America (TN) with the truck brands Freightliner and Western Star and the school bus brand Thomas Built Buses, Trucks Asia (TA) with the commercial vehicle brands FUSO, BharatBenz and RIZON, Mercedes-Benz (MB) with the truck brand of the same name, and Daimler Buses (DB) with the bus brands Mercedes-Benz and Setra. The fifth segment is

Daimler Truck Financial Services (DTFS). In addition to the sale of new and used commercial

vehicles, the company also offers aftersales services and connectivity solutions and invests in

advanced technologies such as zero emissions, hydrogen, charging infrastructure and

autonomous driving.

About PACCAR

PACCAR is a global technology leader in the design, manufacture and customer support of

high-quality light-, medium- and heavy-duty trucks under the Kenworth, Peterbilt and DAF

nameplates. PACCAR vehicles combine state-of-the-art diesel and zero-emissions

powertrains with comprehensive PACCAR charging solutions and infrastructure support.

PACCAR also provides financial services and information technology, and distributes truck

parts related to its principal business.

Cummins Media Contact

Jon Mills, jon.mills@cummins.com

Daimler Truck Media Contact
Andrew Johnson, andrew.johnson@daimlertruck.com

PACCAR Media Contact

Ken Hastings, ken.hastings@paccar.com