September 25, 2017

Daimler to build $542m lithium-ion battery plant

Lithium-ion batteries are becoming popular, as the world is looking for alternative energy sources, and Germany car giant, Daimler, has taken a bold step.

During the media day of the  Geneva International Motor Show, the German car giant Daimler said it would invest around 500 million euros ($542 million) to build a second plant to make lithium-ion batteries.  According to the company, the new unit will beef up production capacity at a factory at Kamenz, near the eastern German city of Dresden, operated by Daimler subsidiary Deutsche Accumotive.

Operational from mid-2017, the new factory will produce batteries for electric and hybrid vehicles under the Mercedes-Benz and Smart brands, it said in a press release.

“To get closer to fully electric driving, we keep investing big in the key component of emission-free vehicles: powerful batteries,” said Daimler chairman Dieter Zetsche, who is also boss of Mercedes-Benz Cars.

Information credits: AFP

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