Mercedes Ramps Up Battery Development with $24B Investment

Posted 7/15/19

This past Christmas, did you spend $23 billion on batteries? Mercedes did, or at least it plans to. The company announced last December it would spend $23 billion on battery cells, and invest another $1.1 billion in eight battery factories in Germany, China, Thailand and the United States.

It’s all part of the company’s efforts to accelerate the electric adoption in its line of vehicles. The company wants its entire line to be hybrid or all electric by 2022. This latest battery investment should ensure a steady supply of essential components until 2030, CNN reported.

An Electric Future

“We are systematically pushing forward with the transformation into the electric future of our company,” Daimler CEO Dieter Zetsche said in the statement.

One thing’s for sure — being an electrical specialist definitely provides job security for mechanics. The future is electric.

Tags: electric specialists, Electric vehicles, Mercedes news

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