German automotive powerhouse Daimler AG is making massive investments in lithium ion (Li-On) batteries. The Stuttgart, Germany-based company hopes this will fuel its future innovations.
With a cool $23 billion set aside for battery purchases from key providers CATL, SK Innovation, and LG Chem, the parent company of Mercedes-Benz is planning for an electric future.
And while it will be necessary for many countries to improve their electrical infrastructures in order to be able to support widespread adoption of electrically driven vehicles, Daimler is leading the charge. The Mercedes-Benz global battery production network is soon to comprise eight factories across three continents.
The company recently announced that it had invested $1.2 billion in ChargePoint, a company which is seeking to be the world leader in electrical charging stations. Once these stations become as ubiquitous to the landscape as the gas station, it will not be hard to envision a world driven on more sustainable electric power.
Daimler plans to unveil 130 electric and hybrid vehicles by 2022, in addition to a variety of commercial fleet vans, trucks and buses. The company has revealed that its forthcoming EQ Product Line will be focused around meeting consumer’s need for cars which expand beyond those that use gasoline and diesel fuel.
While car company’s around the world scramble to remain profitable among a shifting business climate, top brands are taking big steps to expand on their traditional strategies.
Daimler board member Wilko Stark emphasized the company’s plans to invest heavily in electrical battery technologies which will help its future vehicles perform better.