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Mercedes-Benz will invest $1 billion to build electric vehicles in the US

Daimler AG, parent company of Mercedes-Benz, has stated that they will begin to offer electric version of all of their cars by 2022 under a new brand called EQ. The company has now announced that they will build many of those cars in the United States with a $1 billion investment.

The company will be putting that $1 billion investment into the 20-year-old factory the company runs outside Tuscaloosa, Alabama. The plan includes adding a 1-million-square-foot expansion to the location. Construction in the area will start in 2018 and vehicle production is expected to start in early 2020s.

Daimler AG is still working with local governments to work out the fine details as you’d expect, but this new investment is expected to create at least 600 jobs by the company. According to Automotive News, the company has been building electric vehicles in its home country.

Hamza Khalid

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