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Capital and R&D Investments in Products, Technologies and Facilities
PACCAR's consistent long-term profits, strong balance sheet, and focus on quality, technology and innovation have enabled the company to invest $7.9 billion in world-class facilities, next generation products and state of the art technologies during the past decade. PACCAR invested $164.3 million in capital projects and $105.5 million in research and development expenses in the first quarter of 2024. Harrie Schippers, president and chief financial officer, said, "Capital expenditures are projected to be in the range of $700-$750 million and research and development expenses are estimated to be in the range $460-$500 million in 2024. PACCAR is increasing its investment in new powertrains, advanced manufacturing capabilities and capacity, and aftermarket distribution capabilities that will create value for our customers."
PACCAR's advanced battery cell manufacturing joint venture is expected to begin construction of its 21-gigawatt hour (GWh) factory in Marshall County, Mississippi, in the second quarter of 2024, and start production in 2027. PACCAR anticipates investing $600-$900 million in the joint venture.
Posted In: PCAR
