Tesla CEO Elon Musk sways Daimler to invest $11B in EV development

Discussion in 'In the News' started by gene, Sep 25, 2017.

  1. gene

    gene Moderator

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    #1 gene, Sep 25, 2017
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    Daimler AG, parent company to Mercedes-Benz, has responded to Tesla CEO Elon Musk’s tweet that the company was “off by a zero” when it pledged to invest $1 billion in growing its electric vehicle manufacturing footprint. The German-based automotive giant which reported $180 billion in revenue in 2016 confirmed that they have upped the ante and will invest at least $10 billion in development of next-generation electric vehicles and over $1 billion in battery production.

    Mercedes brand executive Markus Schäfer stated, “We are significantly growing our manufacturing footprint here in Alabama, while sending a clear message to our customers across the U.S. and around the world: Mercedes-Benz will continue to be on the cutting-edge of electric vehicle development and production.”

    The proposed $1 billion investment into EVs by Daimler was initially to be used for expansion of its Tuscaloosa, Alabama production facility, where the company currently builds the Mercedes-Benz GLE, GLE Coupe, and GLS SUVs.



    Daimler AG bolstered its commitment to electric vehicle development in a tweet aimed directly at Musk, saying that the company will invest over $11 billion into its brand for “intelligent electric mobility” dubbed “EQ – Electric Intelligence”.

    “Here the missing zero: Investing >$10bn in nxt gen EVs & >$1bn in battery prod.” reads the tweet by Daimler AG.



    Though it’s not clear if Daimler’s at least $10 billion investment will go towards a fleet of all-electric vehicles or plugin hybrid EVs, the commitment joins a long list of other auto manufacturers including BMW, Porsche and Volvo that have pledged to electrify their fleet of new cars over the next two to three years.

    Porsche recently announced that it will begin production of its Mission E concept car that many regard as a true contender for Tesla’s Model S. With a starting price expected to be in the mid $80,000 range, dual motor all-wheel drive, fast charging, and over 300 miles of driving range per single charge, Porsche’s Mission E concept is expected to be on parity to Tesla’s flagship sedan and will compete for market share in the all-electric luxury sedan segment.

    Mercedes-Benz has also revealed its own line up of electric vehicles, most recently at the Frankfurt Motor Show where the company debuted its EQA concept electric compact. The car maker also has plans to launch an all-electric EQC SUV slated for a 2019 delivery.



    Article: Tesla CEO Elon Musk sways Daimler to invest $11B in EV development
     
  2. dh68

    dh68 New Member

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    "Mercedes-Benz will continue to be on the cutting-edge of electric vehicle development and production.”.. ROTFLOL. I guess the Vapor2012TeslaKillerWare is cutting-edge of EV.
     
  3. rayblessin

    rayblessin New Member

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    So . . . . starting a trip from Vancouver into the British Columbia interior with a full charge, where would be the first stop to re-charge, and where would a charging station be found?
     
  4. Vlad Mitrache

    Vlad Mitrache New Member

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    When you say \"sway,\" you make it sound as if Musk\'s tweet is what caused Daimler to pour $10 billion more, which is false. Therefore your title is grossly misleading.
     
  5. Michael Russo

    Michael Russo Moderator

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    I see your point, Vlad (Welcome by the way... :)) yet I think Gene’s use of the word in his title was meant with irony... and I read it as ‘challenges’ Daimler... ;)
     
  6. Vlad

    Vlad New Member

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    Hi and thanks.

    I gues that's one meaning of the word that eludes my knowledge of the language (I'm not being sarcastic, I really mean that).

    Anyway, even so, knowing it could be interpreted the way I did (and it's the most likely twist anyone would give), I still think it's misleading and not doing justice to journalism. Plus, it suggests the author didn't really understand how things went, so it reflects a bit badly on him as well.
     
  7. Michael Russo

    Michael Russo Moderator

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    Multsumesc foarte mult, Vlad... :)
    As stated, I am confident, knowing @gene well enough, that he has enough of an understanding of the situation not to believe, or want to suggest what you interpreted. However I concur that, if indeed it is misinterpreted by some, he will consider this seriously and act accordingly... :)

    La revedere!
     

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