6/22, 8:35 AM (Source: TeleTrader)
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Chart for: DAIMLER AG NA O.N.

Daimler wants to make its own battery cells - report

Daimler AG has changed its strategy and now wants to produce its own battery cells for its electric vehicles, Business Insider reported on Tuesday, citing unnamed corporate sources.

One of the key reasons the company decided to make such a move is that Daimler and its China-based supplier Farasis Energy Inc. did not yet build the battery cell plant and that the cell samples from the Chinese company have reportedly been "catastrophic."

The media outlet stressed that no information is still available on whether Daimler will continue working on battery cell manufacturing on its own or through a partnership with another company.

Baha Breaking the News (BBN) / MS