Mercedes-Benz to invest EUR 11 billion in electric cars

German automaker Mercedes-Benz is investing heavily in the production of electric cars.

It has long been said that electric cars are part of the future. Over the past few months, several major players on the car market have taken this development seriously and invested in the production and development of electric vehicles. Most recently, Mercedes-Benz announced that it was jumping on board, according to a press release.

The manufacturer announced that EUR 10 billion will be invested in ensuring there are electric versions of its existing models while EUR 1 billion will be spent on new factories and the development of battery storage.

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