Mercedes-Benz is reportedly to use battery cells made under its partnership operations in China in some cars made by the firm worldwide.
Dieter Zetsche (pictured), chairman of the German carmaker's parent company Daimler, made the announcement in Beijing, the China Daily reported.
German auto giant Daimler is investing in a second battery and car production plant in Beijing with its Chinese state-owned automobile partner BAIC.
Daimler told BBB the companies would jointly invest more than CNY11.9 billion ($1.9bn) in the new facility at their Beijing Benz Automotive (BBAC) joint venture making lithium-ion batteries and “high-quality premium vehicles” for Daimler’s Mercedes-Benz brand.
Daimler is staying mum on a report that Chinese carmaker Geely has bought a stake in the German peer with a view to partnering on battery tech for electric vehicles.
According to Reuters, sources believe Geely, which owns Volvo, “is keen to access Daimler's battery technology and wants to establish an electric car joint venture in Wuhan, the capital of China's Hubei province”.
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.