Daimler To Purchase $23 Billion Worth Of Battery Cells By 2030

Daimler announced it will buy 20 billion euros ($23 billion) worth of battery cells by 2030 as the next step torwards their latest corporate strategy and the mass production of hybrid and all-electric vehicles.

The company didn’t reveal the suppliers they would use, but they already have signed deals for battery cells with SK Innovation, LG Chem and CATL.

Daimler said they are already investing over one billion euros ($1.14 billion) for a global battery production network that will eventually consist of eight factories on three continents.

“With the purchase of battery cells for more than 20 billion euros, we are systematically pushing forward with the transformation into the electric future of our company,” said Dieter Zetsche, Chairman of the Board of Management of Daimler. “We plan a total of 130 electrified variants at Mercedes-Benz Cars by 2022. In addition, we will have electric vans, buses and trucks.”

Daimler’s first battery factory in Kamenz is already producing battery packs, while their second factory there will also start production in early 2019. Mercedes’ parent company will build an additional two factories in Stuttgart, while the rest of them will be located in Beijing (China), Bangkok (Thailand) and Tuscaloosa (USA).

Mercedes plans to offer electrified versions for each model of its range by 2022, offering different solutions in every segment, ranging from Smart city cars to full-size SUVs. In total there will be over 130 variants, starting from the mild-hybrid 48-volt EQ Boost and plug-in hybrids to more than 10 pure electric vehicles, powered either by battery packs or fuel cells.