German automaker Daimler AG is investing €500 million through its subsidiary Deutsche ACCUMOTIVE to triple its lithium-ion (LiON) production capacity, the company says.
The company’s second LiON production facility in Kamenz, Germany will make batteries to be used in Daimler’s Mercedes-Benz electric vehicles and hybrids, Cleantechnica reports. Last year, Deutsche ACCUMOTIVE expanded into the stationary energy storage market, as well, promoting its scalable LiON batteries for both individual and utility- or industry-scale uses, according to Green Car Congress.
Last month, Bloomberg New Energy Finance projected that electric vehicles could be cheaper than conventional cars by 2022, while installations of stationary energy storage in the United States grew 243% last year, on track to reach a value of US$2.5 billion by 2020.
