Daimler to invest €20bn in battery cells by 2030

The Germany automaker, Daimler, has revealed plans to acquire $20bn (US$22.7bn) worth of battery cells by 2030.

The move forms part of the company’s electrification plans, which also includes investing €10bn ($11.3bn) into the expansion of the Mercedes-Benz Cars electric vehicle fleet.

“Our electric offensive continues to gain momentum,” stated Dr Dieter Zetsche, Chairman of the Board of Management at Daimler AG and Head of Mercedes-Benz Cars.

“After investing billions of euros in the development of the electric fleet and the expansion of our global battery network, we are now taking the next step: With the purchase of battery cells for more than 20 billion euros, we are consistently pushing forward with the transformation into the electric future of our company.”

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“We plan a total of 130 electrified variants at Mercedes-Benz Cars by 2022. In addition, we will have electric vans, buses and trucks.”

The firm will also set aside €1bn ($1.13bn) to be spent on a global battery production network.

“With extensive orders for battery cells until the year 2030, we set another important milestone for the electrification of our future electric vehicles of the EQ product and technology brand,” commented Wilko Stark, Member of the Divisional Board of Procurement and Supplier Quality at Mercedes-Benz Cars.

“In this way, together with our partners, we ensure the supply of our global battery production network today and in the future using the latest technologies.”

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