Daimler May Stop Making EV Batteries
In 2008, Daimler AG announced a joint venture with Evonik to produce Li-Tec batteries for electric vehicles. Fast-forward to the present, which is more than five years after the deal, the parent company of Mercedes-Benz is already contemplating on selling its Li-Tec battery cell plants in Germany. According to Bloomberg, the decision to end the production of EV batteries is a part of Daimler’s plan to scale back its domestic retail organization and to revive its push to reach a profitability goal. The sale might proceed by 2016 said the report, citing some anonymous sources within the company. The post stated though that Daimler will still continue making electric vehicles…. Continue Reading »