Mercedes-Benz Breaks Ground on EV Battery Factory in Alabama

[Brian W + 78]

Mercedes-Benz has started construction of a factory that will produce electric-car batteries near its Tuscaloosa, Alabama, assembly plant. The German automaker is spending $1 billion in order to build electric SUVs in Alabama.

The battery plant will be located seven miles from the existing Tuscaloosa assembly plant, a Mercedes statement said. The automaker said the new plant will create 600 jobs in the region. The Alabama plant will be one of six global factories supplying batteries for future Mercedes electric cars, along with three in Germany, one in China, and one in Thailand. Mercedes plans to offer at least one electrified powertrain in each model it makes by 2022.

[Vlad Kovalenko + 115]

Daimler is the most conservative in terms of EV development the EQC unlike the e-tron & I-Pace is clearly developed on the existing GLC platform . However the interior is first-class Mercedes, so it would be interesting to see how it performs in dynamics, efficiency and above all market reception in the real world.

[Adam Varga + 123]

The EV thing is relatively new and while all the Tesla loyalists criticize the "legacy automakers" slow adoption to EV, the main aspect I believe is still mainly costs and profits. Winning slowly won't gain you any fans, but at least it won't lead you to a bankrupt. 

[BlackTortoise + 103]

Daimler is on the right path considering EVs. Obviously they have the knowhow. And six factories to produce EQ models. They have a plan for expanding production of the parts, batteries and final car in synch.  just don't know what is their plan about cells.  They are planning to build one or buy it from China? 

[Adam Varga + 123]

I think they will build one, likely from CATL. Daimler tried to produce cells in Germany and failed. It was too expensive. 

[DA? + 301]

19 minutes ago, Adam Varga said:

The EV thing is relatively new and while all the Tesla loyalists criticize the "legacy automakers" slow adoption to EV, the main aspect I believe is still mainly costs and profits. Winning slowly won't gain you any fans, but at least it won't lead you to a bankrupt. 

It looks like a number of the old style manufactures will go under in the not to distant future. Take a look at Ford, trading at just over junk and stopping car production just about completely in the USA. The latest from them is mass lay off's while trying to save $25 billion to stop them going under.

It's hard to say whom will survive the coming decade or two but if you are not investing in EV's the future doesn't look bright.

As for Tesla maybe they will go under, but they are changing the car world and manufacturing and data and computer hardware and solar and energy storage and so on. These tech's need to be implemented in a large way quickly and the only way to do that is borrow capital to invest.

[WALE AJAO + 3]

excellent stride...

[Jan van Eck + 7,558]

15 hours ago, DA? said:

It looks like a number of the old style manufactures will go under in the not to distant future. Take a look at Ford, trading at just over junk and stopping car production just about completely in the USA. The latest from them is mass lay off's while trying to save $25 billion to stop them going under.

It's hard to say whom will survive the coming decade or two but if you are not investing in EV's the future doesn't look bright.

In November 1981 Ford was 70 cents a share.  In March 1999 it hit $34.  In February 2009 it was at $1.58. Today it is at $9.26. That is the nature of automakers; their stock value goes all over the place.  At this point, having risen six-fold in nine years, I would not call it "trading at just over junk."  At least, not the equities, I don't know about the bonds or commercial paper. 

The gasoline-driven auto (and pick-up truck) have been developed to a high degree of sophistication and refinement; they are going to be around for a very long time to come, absent being "outlawed" by various governments.  When banned, then of course they will have no value.  I don't see that happening in most parts of the globe, however.  

What will be very interesting is if New York City bans private gasoline autos and taxis in Manhattan Borough on air-quality grounds.  In that case, the EV auto market will receive a real shot in the arm, as the EV's will not have to be price discounted.