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Daimler to invest $23B on battery cells

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German automaker Daimler announced it will buy $23 billion worth of battery cells by 2030.

The maker of Mercedes-Benz cars is preparing to mass-produce hybrid and electric vehicles.

“With extensive orders for battery cells until the year 2030, we set another important milestone for the electrification of our future electric vehicles,” said Wilko Stark, who oversees procurement and supplier quality on the board of Mercedes-Benz, in a statement.

Read more from Reuters.

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