Oppenheimer Reiterates Perform On Tesla (TSLA) Following Solar City Acquisition
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Daimler to invest $11 billion in electronic vehicles: paper
November 25, 2016 9:48 AM ESTFRANKFURT (Reuters) - Luxury carmaker Daimler is planning to invest up to 10 billion euros ($11 billion) in developing electric vehicles, its research and development head told a German daily.
German firms are investing heavily in electric cars, once shunned for their high cost and limited operating range but now benefiting from recent advances in battery technology and a backlash against diesel fumes.
Technological advances to increase the reach of an electric car by up to 50 percent are now spurring major investments by Volkswagen, Daimler and suppliers such as Bosch and Continental.
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