Daimler To Invest 10 Billion Euros On Electric Vehicles After Volkswagen ‘Dieselgate’ Scandal

By Ceage Sotto , Updated Nov 27, 2016 02:48 AM EST

The emerging market for green cars has just added a new player -- Daimler is reporteldy planning to invest a staggering 10 billion Euros ($11 million) for the development of its own electric cars. This development changes how car manufacturers see electric cars, as there was a time when they were snubbed because of the high cost to create such hybrid vehicles.

Volkswagen Emissions Cheating Scandal Main Catalyst For E-Cars Emerging Market

According to Auto NDTV, the recent scandal involving Volkswagen and the company's rigged diesel emission tests were the main catalysts for automobile companies to change their minds. The "Dieselgate" scandal has widely affected Volkswagen's image as a car manufacturer, let alone the consumer's shifting mindset against diesel engines. After public uproar about the German carmaker's scandal, Volkswagen has announced that it will drop diesel vehicles in the United States and refocus their attention to SUVs and sustainable electric cars.

In a bid to push for a greener and an emissions friendly car, Daimler is planning to invest up to 10 million Euros for the development of 10 e-cars by the end of 2025. In a post by Reuters, Thomas Weber, head of group research & Mercedes Benz-car development, has confirmed that the German multinational firm does intend to develop electric cars up until 2025.

New Automobile Technology Enabled The Push For Electric Cars

In a speech by Tesla Motor's JB Straubel a year ago, Battery Electric Vehicles (BEV) will dominate the automobile market a few years from now. The revelation came after advancements in battery technology have drastically improved the cost to create and manufacture electric vehicles.

The emergence of the new lithium-ion battery has drastically increased the e-cars ability to store more power at a low cost. Previous nickel metal hydride and lead acid batteries did at one time impend the development of these hybrid car units.

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