26 Feb '14, 5am

Daimler battery venture in doubt #evonik #daimler

Daimler battery venture in doubt #evonik #daimler

The future of the Li-Tec battery joint venture between Daimler AG and Evonik Industries is in doubt as the German carmaker looks to make savings. According to Michael Vassiliadis, a member of the supervisory board at Evonik, Daimler is "not sure how it will proceed while technology is improving". Speaking back in October, the company's chief executive officer Klaus Engel outlined that a combination of fast growing supply and low demand for electric cars had meant that there was increasing pressure on prices. He suggested that a three digit million sum and a lot of risk would be required to keep pace with the rapid developments in the industry. With uncertainty surrounding costs and partners, Daimler has been said to have been reviewing its options for Li-Tec since June. The company is, however, thought to be "convinced" about its technological expertise. Currently, Evonik ...

Full article: http://www.thegreencarwebsite.co.uk/blog/index.php/2014/0...

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