The German company Daimler AG will be putting €500 million into the creation of a second lithium-ion battery production facility in Germany, according to recent news from the company. This new facility will produce lithium-ion batteries to be used in electric vehicles and hybrids released under the Mercedes-Benz brand, reportedly.
The decision to build the new facility will lead to a, roughly, tripling of Daimler subsidiary Deutsche ACCUMOTIVE’s production space. The new production facility will be located adjacent to the existing one, in Kamenz, Germany. Daimler has already bought around 20 hectares of land next to the other facility, in anticipation of construction.