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Daimler to Invest $47 Billion Into Electric Vehicle Production

July 22nd, 2021

Via: Reuters:

Mercedes-Benz maker Daimler plans to invest more than 40 billion euros ($47 billion) by 2030 to be ready to take on Tesla in an all-electric car market, but warned the shift in technology would lead to job cuts.

Outlining its strategy for an electric future, the inventor of the modern motor car said on Thursday it would, with partners, build eight battery plants as it ramps up electric vehicle (EV) production.

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