Daimler to buy battery cells for $ 23 billion by 2030



[ad_1]

© Reuters. Daimler to buy battery cells for $ 23 billion by 2030

By Edward Taylor

FRANKFURT (Reuters) Daimler (DE 🙂 will buy up to 2030 battery cells worth more than 20,000 million euros ($ 23 billion), while preparing a huge production of hybrid and electric vehicles, Mercedes-Benz carmaker announced on Tuesday.

The company is one of the many German automakers that are expanding strongly in the electric vehicle market as European regulators seek to reduce the toxic emissions from diesel cars.

"With extensive requests for battery cells by 2030, we have established another important milestone for the electrification of our future electric vehicles," said Wilk Stark, who oversees the quality of the suppliers on the board of Mercedes-Benz Cars, in a statement.

Daimler declined to say what the suppliers will be. The company already has cell supply agreements with South Korean Innovation SK (KS 🙂 and China's LG Chem (KS 🙂 and Contemporary Amperex Technology (CATL) because it plans to launch 130 electric and hybrid vehicles by 2022, in addition to manufacturing vans, buses and electric trucks.

Daimler, based in Stuttgart, needs battery cells while building a global network of battery assembly plants in the German cities of Kamenz, Untertuerkheim and Sindelfingen, as well as in Beijing, Bangkok and Tuscaloosa in the United States.

The company is expanding its footprint in battery cell research and working on next generation batteries to reduce its dependence on expensive minerals such as cobalt, which comes mainly from the war-ravaged Democratic Republic of Congo.

The Mercedes-Benz EQ electric car, scheduled for launch in 2019, will use battery cells containing 60%, 20% manganese and 20% cobalt, the company said.

Future Mercedes-Benz electric vehicles will contain batteries that use 80 percent nickel and only 10 percent manganese and 10 percent cobalt, he added.

"Our engineers are also working at a ratio of 90% nickel, 5% manganese and 5% cobalt to further reduce the amount of rare earth metals," Daimler said.

(Information from Edward Taylor, edited in Spanish by Rodrigo Charme)

Legal Notice: Fusion Media I would like to remind you that the data contained on this site is not necessarily real-time or accurate. All CFDs (stocks, indexes, futures) and FX prices are not provided by stock exchanges, but by market makers, so prices may not be accurate and may differ from the current market price, meaning prices are indicative and not suitable for commercial purposes. Therefore, Fusion Media is not responsible for any commercial losses you may incur with the use of this data.

Fusion Media or any person involved with Fusion Media will not accept any liability for damages as a result of reliance on the information, including data, quotes, graphics and buy / sell signals contained on this site. Please be fully informed about the risks and costs associated with trading the financial markets, it is one of the most risky investment forms possible.

[ad_2]

Source link