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to build LFP gigafactory in US with joint venture partners","daimler-to-build-lfp-gigafactory-in-us-with-joint-venture-partners","article/daimler-to-build-lfp-gigafactory-in-us-with-joint-venture-partners",{"_uid":557,"date":558,"tags":559,"editor":572,"content":582,"excerpt":687,"featured":51,"reporter":688,"_editable":692,"component":693,"seo_title":553,"categories":694,"visibility":712,"author_company":49,"featured_image":713,"seo_description":687,"author_full_name":49,"author_job_title":49,"formattedDate":718,"formattedArticleDate":719},"6b41f55e-c6ea-46c3-8352-a5afd86717c9","2023-09-08 00:00",[560,563,566,569],{"slug":561,"name":562},"daimler","Daimler",{"slug":564,"name":565},"north-america","North America",{"slug":567,"name":568},"trucks","Trucks",{"slug":570,"name":571},"usa","USA",[573],{"slug":574,"name":575,"content":576},"matthew-bird","Matthew Bird",{"job_title":577,"image":578,"bio":580,"linkedin":581},"Senior Editor - Supply Chains & Data Visualisation",{"filename":579},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":583,"content":584},"doc",[585,592,597,620,625,630,635,642,647,652,657,662,667,672,677,682],{"type":586,"attrs":587,"content":588},"paragraph",{"textAlign":49},[589],{"text":590,"type":591},"Daimler Truck, a German truck manufacturer, is planning a $2-3 billion gigafactory to produce lithium iron phosphate (LFP) cells in the US in a joint venture.","text",{"type":586,"attrs":593,"content":594},{"textAlign":49},[595],{"text":596,"type":591},"The 21 gigawatt-hour gigafactory will be built through a joint venture between Daimler Truck, component manufacturer Accelera (a unit of Cummins), and truck maker PACCAR, who will each have a 30% interest in the venture. Chinese battery producer EVE Energy will take a 10% stake as the technology partner.",{"type":586,"attrs":598,"content":599},{"textAlign":49},[600,602,610,612,618],{"text":601,"type":591},"This comes as North America is forecast to increase from 0.2% of global ",{"text":603,"type":591,"marks":604},"LFP cell production",[605],{"type":606,"attrs":607},"link",{"href":608,"uuid":49,"anchor":49,"target":49,"linktype":609},"https://source.benchmarkminerals.com/article/kore-power-850-million-doe-loan-provides-boost-to-us-lfp-cell-production","url",{"text":611,"type":591}," this year to 5.5% by 2030, according to ",{"text":613,"type":591,"marks":614},"Benchmark’s Lithium ion Battery Database",[615],{"type":606,"attrs":616},{"href":617,"uuid":49,"anchor":49,"target":49,"linktype":609},"https://www.benchmarkminerals.com/forecasts/lithium-ion-batteries",{"text":619,"type":591},".",{"type":586,"attrs":621,"content":622},{"textAlign":49},[623],{"text":624,"type":591},"“This is a positive development for North American LFP build out due to growing demand for LFP outside of China,” Aran Waid, an analyst at Benchmark, said. “As the electrification of commercial vehicles is driven by China, LFP is the dominant chemistry in commercial electric vehicle segments as well as the growing energy storage system market.”",{"type":586,"attrs":626,"content":627},{"textAlign":49},[628],{"text":629,"type":591},"The site for the gigafactory has yet to be decided. However, a final site announcement is expected within the next six months, Paul Mandaiker, Daimler Truck’s technology and regulations spokesperson, told Benchmark Source.",{"type":586,"attrs":631,"content":632},{"textAlign":49},[633],{"text":634,"type":591},"Production is forecast to begin in 2027.",{"type":636,"attrs":637,"content":639},"heading",{"level":638,"textAlign":49},4,[640],{"text":641,"type":591},"Choice of LFP",{"type":586,"attrs":643,"content":644},{"textAlign":49},[645],{"text":646,"type":591},"Compared to nickel cobalt manganese (NCM) cells, LFP is generally considered to have lower performance for passenger vehicles. However, for large trucks, the cell chemistry has a host of advantages.",{"type":586,"attrs":648,"content":649},{"textAlign":49},[650],{"text":651,"type":591},"“LFP battery technology is an excellent choice for commercial vehicles,” Mandaiker said. “The LFP battery cells produced by the joint venture will be able to offer several advantages compared to other battery chemistries, including lower cost, longer life, and enhanced safety, without the need for nickel and cobalt raw materials.”",{"type":586,"attrs":653,"content":654},{"textAlign":49},[655],{"text":656,"type":591},"However, despite these advantages, China has a near monopoly on the production of LFP cells, with 99.5% of production occurring in the country.",{"type":586,"attrs":658,"content":659},{"textAlign":49},[660],{"text":661,"type":591},"China also dominates in the supply chain with over 99% of LFP cathode material forecast to be produced in China this year, according to Benchmark’s Cathode Forecast.",{"type":586,"attrs":663,"content":664},{"textAlign":49},[665],{"text":666,"type":591},"“At the start of production, like any battery cells manufactured globally, a significant portion of the battery cell materials will come from China,” Mandaiker said. “The joint venture plans to localise the majority of components in North America as soon as possible.”",{"type":586,"attrs":668,"content":669},{"textAlign":49},[670],{"text":671,"type":591},"The US is incentivising the build out of such local supply chains through the Inflation Reduction Act and state economic development packages.",{"type":586,"attrs":673,"content":674},{"textAlign":49},[675],{"text":676,"type":591},"“These programs are critical to support the localisation of battery production, and of the battery supply chain,” Mandaiker said.",{"type":586,"attrs":678,"content":679},{"textAlign":49},[680],{"text":681,"type":591},"Although the US’ Inflation Reduction Act has some provisions excluding foreign entities of concern from certain tax credits, Daimler Truck does not foresee EVE Energy’s involvement as impacting the joint venture’s ability to qualify for the credits.",{"type":586,"attrs":683,"content":684},{"textAlign":49},[685],{"text":686,"type":591},"“No state and local incentives will flow directly to any individual partner,” Mandaiker said. “Rather, they will be realised by the joint venture itself in the development and production of cells in the US – exactly as policy makers intended.”","Daimler Truck, a German truck manufacturer, is planning a $2-3 billion gigafactory to produce lithium iron phosphate (LFP) cells in the US in a joint venture. The 21 gigawatt-hour gigafactory will be built through a joint venture between Daimler Truck, component manufacturer Accelera (a unit of Cummins), and truck maker PACCAR, who will each have […]",[689],{"slug":574,"name":575,"content":690},{"job_title":577,"image":691,"bio":580,"linkedin":581},{"filename":579},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"6b41f55e-c6ea-46c3-8352-a5afd86717c9\", \"id\": \"\"}-->","article",[695,698,701,704,707,709],{"slug":696,"name":697},"batteries","Batteries",{"slug":699,"name":700},"critical-minerals","Critical Minerals",{"slug":702,"name":703},"ev","EV",{"slug":705,"name":706},"gigafactories","Battery & Gigafactory",{"slug":708,"name":8},"lithium",{"slug":710,"name":711},"phosphate","Phosphate","private",{"id":49,"alt":714,"name":714,"focus":714,"title":714,"source":714,"filename":715,"copyright":714,"fieldtype":716,"meta_data":717,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/24ec504631/bm-23dt152-001.jpg","asset",{"alt":714,"title":714,"source":714,"copyright":714},"Sep 08, 2023","8th September 2023",[],[],1792688580295]