Mercedes-Benz will invest 740 million US dollars in Beijing to build electric vehicle battery factory

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TI training According to foreign media reports, if you want to produce electric cars, you need batteries. However, the current battery supply is not sufficient. Therefore, German car manufacturer Daimler decided to invest in building a battery factory in China.

Daimler announced on Wednesday that it will cooperate with Chinese partner Beijing Automotive Co., Ltd. to invest 740 million US dollars to build a battery factory in China. However, this battery factory will not only produce batteries for electric vehicles, but also produce Mercedes-Benz electric vehicles.

"By 2025, the Chinese market will have a large share of Mercedes-Benz electric vehicle sales," Daimler board member Hubertus Troska said in a statement, "So, locally Investing in a factory is critical to the success of our electric vehicle business and helps us flexibly meet local electric vehicle needs."

This factory will be the key to the success of Mercedes-Benz electric vehicles in China. Establishing a factory in China, working with Beijing Automotive Co., Ltd. to produce electric vehicles for the Chinese, will allow Mercedes-Benz cars to avoid 25% of imported vehicle tariffs. Reducing costs will undoubtedly help drive demand for electric vehicles.

Daimler plans to invest $1.13 billion worldwide to build batteries. The car manufacturer has built a battery factory in Kamenz, Germany. It is also preparing to build a second battery factory in Germany. With these two battery factories, Daimler should be able to supply the batteries needed for its first Mercedes-Benz electric cars.

Mercedes-Benz Automotive has produced plug-in hybrid and battery electric vehicles. It also plans to launch 10 new electric buses by 2022. The company expects that by 2025, electric vehicles will account for 15% to 25% of all of its car sales.