Daimler is casting a wide net to make progress on the 10,000 electric vehicles it wants to sell by 2012. The company partners with Evonik for the development and manufacturing of automotive lithium ion batteries and is looking for another partner to join that project. Daimler is also working with Tesla Motors on the smart ed. The latest from the German company is the sale of $2.7 billion worth of shares the Abu Dhabi government in order to fund electric vehicles an develop composite materials to use in vehicles. Aabar Investment, the government's fund, made the purchase, according to the New York Times.
It shouldn't be surprising that Abu Dhavi is interested in electric cars. Companies there have invested in Lotus and the Dubai-based Al Yousuf Group has put money into Zap. Al Yousuf has also invested in Altair Nanotechnologies Inc.

[Source: New York Times]

I'm reporting this comment as:

Reported comments and users are reviewed by Autoblog staff 24 hours a day, seven days a week to determine whether they violate Community Guideline. Accounts are penalized for Community Guidelines violations and serious or repeated violations can lead to account termination.

    • 1 Second Ago
  • From Our Partners

    You May Like
    Links by Zergnet
    Share This Photo X