To support its goal of electrifying the entire Mercedes portfolio by 2022, Daimler plans to invest more than €20 billion ($23 billion) in battery cells by 2030. The company will also invest €10 billion in expanding the Mercedes-Benz electric fleet and €1 billion in its global battery production network.

Daimler currently has battery supply deals with SK Innovation, LG Chem and China’s Contemporary Amperex Technology. The company’s future production network will consist of eight factories. Production has begun at the first of two factories in Kamenz, Germany, and production at the second is slated to begin in early 2019. Daimler plans to build two more factories in the Stuttgart region, and one each in Beijing, Bangkok and Tuscaloosa, Alabama.

Daimler has lately revved up development on its electric truck line – the company’s first all-electric truck, the light-duty Fuso eCanter, was launched in 2017, the first Mercedes-Benz eCitaro was delivered to Hamburg’s public transport operator earlier this year, and the heavy-duty eActros is currently in customer trials.

“After investing billions of euros in the development of the electric fleet and the expansion of our global battery network, we are now taking the next step,” said Daimler Chairman Dieter Zetsche. “With the purchase of battery cells for more than 20 billion euros, we are pushing forward with the transformation into the electric future of our company. We plan a total of 130 electrified variants at Mercedes-Benz Cars by 2022. In addition, we will have electric vans, buses and trucks.”

Source: Daimler