Li-Tec Battery

Latest Mercedes-Benz News

Daimler May Stop Making EV Batteries

In 2008, Daimler AG announced a joint venture with Evonik to produce Li-Tec batteries for electric vehicles. Fast-forward to the present, which is more than five years after the deal, the parent company of Mercedes-Benz is already contemplating on selling its Li-Tec battery cell plants in Germany. According to Bloomberg, the decision to end the production of EV batteries is a part of Daimler’s plan to scale back its domestic retail organization and to revive its push to reach a profitability goal. The sale might proceed by 2016 said the report, citing some anonymous sources within the company. The post stated though that Daimler will still continue making electric vehicles…. Continue Reading »


Daimler Looking into Sale of Li-Tec Battery Joint Venture

Daimler AG together with partner Evonik Industries AG are considering selling Li-Tec Battery GmbH, a joint venture that isn’t really very profitable. The companies’ efforts to find another owner to join up have been in vain, which is why it is now considering a sale. Li-Tec Battery, based in Dresden and formed in 2008, makes Li-Ion battery cells meant for use in automobiles as well as other industrial applications. The company develops and makes its own batteries. It was seen as a good way to provide batteries for future electric vehicles produced by the German automaker. Daimler has a 49.9 percent stake in the joint venture, while Evonik holds the rest… Continue Reading »


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