Daimler to spend billons on EV’s

Daimler has announced plans to invest billions in a move into the EV market – with 10 vehicles planned to be released by 2025.

Head of research and development at Daimler, Thomas Weber, has announced that the company will be moving forward with its plans for substantial investment into electric vehicles — with up to €10 billion (AUD$14.2 billion) in total investment.

“By 2025 we want to develop 10 EV’s based on the same architecture. For this push we want to invest up to €10 billion,” says Weber.

The vice president of sales and product management at Daimler-owned Mercedes-Benz, Matthias Lührs, notes that there is a plan to offer plug-in hybrid (PHEV) versions of every model in the company’s lineup by 2020.

Daimler is part of the group working on the recently announced pan-Europe electric vehicle fast-charging network, which is expected to be built out by 2020.