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Daimler to Expand Lithium-Ion Battery Production with New 500 Million Euro Facility

Published On Mar 08, 2016By Prashant Talreja

Daimler is raising a production house in Germany, with the goal of manufacturing lithium-ion batteries. The company will be using them in future projects relating to smart hybrid and electric vehicles. The project had been in its formation stage back in 2014, when the firm was looking for a broader avenue for its battery production. At that time, the brand had decided to invest nearly 100 million euros to boost an already existing battery making plant. The new plant is expected to cost the company a whopping 500 million euros. The facility will be inaugurated later this year, before heading into full-fledged production in mid-2017.

The plant will be shared by the company's subsidiary, Deutsche ACCUMOTIVE, which will acquire three-fold its current production space. Based in Kamenz, this is an engineering firm that applies lithium-ion technology to develop batteries for hybrid and electric vehicles. It supplies batteries for Daimler and plans to work with other private firms to bolster its presence in the battery storage market. Since its establishment just recently in 2009, the company has delivered a staggering 70,000 lithium-ion batteries. Daimler and Deutsche ACCUMOTIVE had joined hands last year, with the truck maker aiming to move its models towards new age electric designs.

“To get closer to fully electric driving, we keep investing big in the key component of emission-free vehicles: powerful batteries. We are now devoting another 500 million Euros to build a second battery factory in Germany. This underlines our commitment to the consistent expansion of electromobility,”said Dr. Dieter Zetsche, Chairman of the Board of Management of Daimler AG.

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