Vehicle manufacturer Daimler AG is investing €100 million to expand its Li-Ion battery manufacturing capacity through its subsidiary Deutsche ACCUmotive GmbH and Co. KG. Deutsche ACCUmotive was founded in 2009 to supply Li-Ion batteries for Daimler’s vehicles which currently include the Smart EV and hybrid variants of the S-, E- and C-Class Mercedes-Benz. The investment will include the expansion of its factory to four times the 2011 footprint which has already delivered 50,000 batteries. The expansion of Daimler’s battery production capacity also marks a move into the growing stationary energy storage market.
The entrance of Daimler into the stationary energy storage market marks another high profile entrant into this industry, with significant manufacturing expertise and scale. The grid-connected energy storage market continues to be a strategic focus for future growth for a wide range of companies. The automotive giant joins other entrants that are primarily focused on the automotive industry, including US-based Tesla.