The Daimler Group, owner of Mercedes-Benz and Smart, just announced an investment of 10 Billion of Euros ($11 Billions) in the electric car market. Just some notion, Tesla’s market cap today is of $29.2 billion.
“By 2025, we want to develop 10 electric cars based on the same architecture. For this push, we want to invest up to 10 billion euros, he said, adding three of the models will be Smart branded cars and that thanks to larger batteries, they will be able to increase their cruising range up to 700 kilometers (435 miles).“ Thomas Weber told Stuttgarter Zeitung’s Saturday edition.
Source: Reuters http://www.reuters.com/article/us-daimler-usa-diesel-idUSKBN13K1MG