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Mercedes-Benz automaker said Tuesday that Daimler will buy more than 20 billion euros ($23 billion) worth of batteries by 2030 as it prepares to mass-produce hybrid and electric vehicles
.
With European regulators cracking down on toxic diesel emissions, the company is one of
many German automakers expanding into large electric vehicles.
"This move means that we have set another important milestone for the electrification of future electric vehicles," Wilko Stark, who is responsible for procurement and supplier quality on the Mercedes-Benz Board of Motors, said
in a statement.
Daimler declined to say which suppliers would be awarded the contract
.
However, the company has signed battery supply agreements with South Korea's SK Innovation, LG Chem and China's CATL as it plans to launch 130 electric and hybrid vehicles by 2022, in addition to producing electric vans, buses and trucks
.
Stuttgart-based Daimler AG has established a global network
of battery assembly plants in Kamenz, Untertuerkheim and Sindelfingen in Germany, as well as in Beijing, Bangkok and Tuscaloosa, Alabama.
Daimler said it is expanding its capabilities in battery research and next-generation batteries to reduce its reliance on expensive rare earth minerals, mainly from the war-torn Democratic Republic of Congo
.
Mercedes-Benz automaker said Tuesday that Daimler will buy more than 20 billion euros ($23 billion) worth of batteries by 2030 as it prepares to mass-produce hybrid and electric vehicles
.
With European regulators cracking down on toxic diesel emissions, the company is one of
many German automakers expanding into large electric vehicles.
"This move means that we have set another important milestone for the electrification of future electric vehicles," Wilko Stark, who is responsible for procurement and supplier quality on the Mercedes-Benz Board of Motors, said
in a statement.
Daimler declined to say which suppliers would be awarded the contract
.
However, the company has signed battery supply agreements with South Korea's SK Innovation, LG Chem and China's CATL as it plans to launch 130 electric and hybrid vehicles by 2022, in addition to producing electric vans, buses and trucks
.
Stuttgart-based Daimler AG has established a global network
of battery assembly plants in Kamenz, Untertuerkheim and Sindelfingen in Germany, as well as in Beijing, Bangkok and Tuscaloosa, Alabama.
Daimler said it is expanding its capabilities in battery research and next-generation batteries to reduce its reliance on expensive rare earth minerals, mainly from the war-torn Democratic Republic of Congo
.
