From Electrek: Daimler plans to invest over $1 billion in batteries to support its electric...

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Daimler plans to invest over $1 billion in batteries to support its electric vehicle plans



You simply can’t manufacture electric vehicles in volume if you can’t secure a steady supply of battery cells. Some automakers are doing it by partnering with battery makers, like GM with LG, and others are directly investing in battery manufacturing capacity, like Tesla with the Gigafactory – though still in partnership with a battery maker, Panasonic.

Now Daimler plans to further its own investment in battery production by 1 billion euros ($1.1 billion USD) in order to support its electric vehicle ambitions with Mercedes’ new ‘EQ’ brand and the new Smart electric car lineup. more…

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