Mercedes-Benz, a German vehicle maker, has actually revealed strategies to invest billions of euros in electrical vehicle (EV) factories in China, Germany, and Hungary.
The financial investments become part of a bigger technique by the business to amaze its lineup of lorries due to increasing international need for EVs and ever-tighter emissions policies.
The business means to put EUR1 billion into its Sindelfingen, Germany factory to build a brand-new assembly line for EVs. In addition, the business will invest around EUR500 million in its Kecskemét, Hungary plant to allow the production of EVs and hybrid lorries.
The 2 factories will be signed up with by a 3rd, situated in Beijing, China. As part of the arrangement, Mercedes-Benz will partner with Beijing Electric Vehicle Co., Ltd (BJEV), a subsidiary of the Beijing Automotive Group, to construct EV production centers in the city.
The relocation belongs to Mercedes-Benz’s EUR10 billion strategy to establish EVs and hybrid cars over the next 5 years. The business will likewise purchase the advancement of EV batteries, charging facilities, and self-governing driving innovations.
The financial investments mark a significant shift in the automobile market, as a growing number of significant car manufacturers make the shift to EVs. With its financial investments, Mercedes-Benz is well-positioned to end up being an international leader in the EV market.
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