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Daimler Truck Holding AG lowered its outlook for 2024, following other truck makers that have trimmed forecasts on softening sales as demand in Europe and Asia weakens.

Daimler Truck’s battery-electric vehicle ambitions took another step forward as the world’s largest truck maker opened a center devoted to developing battery expertise in Germany.

Construction of Amplify Cell Technologies’ battery cell manufacturing plant in Marshall County, Miss., has begun, the joint venture among Accelera, Daimler Trucks and Paccar said.

Cellcentric began pilot production of hydrogen fuel cells June 20 at its Esslingen plant in Germany, the joint venture between Daimler Truck and Volvo Group said.

Kel Kearns is slated to be the CEO at the commercial vehicle battery cell manufacturing joint venture set up by Accelera by Cummins, Daimler Trucks & Buses U.S. Holding and Paccar Inc.

Daimler Truck profits rose year-over-year in Q1 2024, with executives and analysts more optimistic about the company’s North American business than its European operations.

The world’s biggest commercial vehicle maker warned that slow progress adding charging infrastructure is threatening the shift to zero-emission trucking.

Daimler Truck Holding AG and Volvo AB will face a retrial in a 560 million euros ($603 million) case over a price fixing cartel, a German appeals court ruled.

Profits at Daimler Truck AG jumped 120% year-over-year in the fourth quarter of 2023 on strong demand plus higher prices and margins. 

Daimler Truck AG and Abu Dhabi agreed to explore the Gulf state’s supply of green hydrogen to power future fuel cell rigs in Europe.