Israeli start-up StoreDot has raised a further $60 million to support the scaling-up of its electric vehicle (EV) fast-charge FlashBattery technology in a third round of funding led by the truck division of Germany’s Daimler.
StoreDot has said previously it was in talks with European and Chinese car OEM’s about its technology.
A new manufacturing plant for “premium e-batteries” and electric vehicles is to be built in Beijing by Germany’s Daimler and its Chinese joint venture (JV) partner BAIC.
Daimler and BAIC intend to jointly invest a total of CNY5 billion ($736.6 million) in the production of Daimler’s Mercedes-Benz brand battery electric vehicles (BEVs) at the plant, which will be operated by the firms’ Beijing Benz Automotive Co., Ltd., (BBAC) JV.
German vehicle OEM Daimler is opening an US arm of its energy subsidiary as it looks to break into one of the biggest and most congested energy storage markets in the world.
After founding Mercedes-Benz Energy, based in based in Kamenz/Saxony, Germany, earlier this year.
Daimler has started construction of its second battery factory in Kamenz with an investment of €500million ($547.3million) and it is claimed to be one of the largest in Europe.
The new production facility is planned to start operations in the middle of 2018. The area of about 20 hectares is located in immediate proximity of the existing battery factory in Kamenz, about 50 kilometers from Dresden.
German OEM Daimler is to invest around €500million ($542,890) to build a lithium-ion battery pack manufacturing plant as it expands its electric and hybrid vehicles range.
Using cells from LG Chem and SK Innovations, among others, the move will ‘significantly expand’ the production capacities of Daimler subsidary Deutsche Accumotive.
German vehicle manufacturer Daimler has signalled its intention to bring inductive charging technology to market with its latest deal.
The strategic partnership with Qualcomm Technologies, a subsidiary of Qualcomm Incorporated, will see the company focusing on implementing the U.S. firms technology in its EV and PHEV vehicles.
Daimler is to invest €100m ($125m) in its lithium-ion battery system manufacturing subsidiary Deutsche ACCUmotive over the next years.
The subsidiary will produce lithium-ion batteries for new electric versions of Daimler’s Smart cars in 2016 and new Mercedes Benz hybrid models. An expansion of the subsidiary’s manufacturing facility in Kamenz, Germany, is currently under construction and is set to be completed mid-2015, increasing the production space to 20,000 sq. m.
Tesla is to open up a battery production plant in Germany “within five to six years”, according to the carmaker’s CEO Elon Musk.
In an interview with German magazine Der Spiegel Musk called for more effort in the development of batteries in Germany and criticised the German automotive industry for the lack of technological commitment despite “fulfilling all qualifications for it.”