Daimler to Buy $23 Billion of Battery Cells for Electric Car Drive

Posted by Edward Taylor

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FRANKFURT (Reuters) – Daimler (DAIGn.DE) will buy battery cells worth more than 20 billion euros ($23 billion) by 2030 as it readies mass production of hybrid and electric vehicles, the maker of Mercedes-Benz cars said on Tuesday.

The company is one of a number of German automakers massively expanding in electric vehicles as European regulators clamp down on toxic diesel emissions.

“With extensive orders for battery cells until the year 2030, we set another important milestone for the electrification of our future …Click here for full article.