Daimler set to increase electric car exposure

Daimler, which owns the Mercedes-Benz brand, has announced plans to significantly increase research and development in the area of electric vehicles. Last year the company invested €6.6 billion in this area of business which was an increase of nearly €1 billion from the previous year. The company “expects to be significantly above” the €6.6 billion figure for this year and we await developments with anticipation.

The company has promised to expand on its electric vehicle plans at this year’s Paris motor show in October when the world’s motoring media will be present.