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Daimler backs EVs with 7 billion euros

Daimler, the German automotive group, is to invest 7 billion euros (US$7.7 billion) in research and development of green technologies over the next two years

This will include fuel cell vehicles as well as conventional electric vehicles and follows the news from the group’s Mercedes brand that all of its cars will soon have some form of electrification in future.

Mercedes has even mooted the launch of a stand-alone EV brand, in addition to plans for a long-range EV on the market by 2020.

“No other manufacturer offers a comparable range of electrified vehicles and solutions in the field of electric mobility,” said Daimler Board Member Dr. Thomas Weber.

Weber has promised that Daimler will reach 100,000 annual EV sales by 2020.

German carmakers have accelerated EV plans in the wake of the VW “defeat device” scandal and criticism over EU emissions tests.

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