21 SEP

Mercedes’ parent company will pour $1 billion in a plant that will create its Tesla rival

Mercedes-Benz

BERLIN (Reuters) – Germany’s Daimler said it will invest $ 1 billion to expand its U.S.-based Mercedes-Benz plant in Alabama to start building electric sport-utility vehicles there from about 2020.

More than 600 new jobs will be created as part of the investment, which includes plans to build a facility in 2018 near the factory in Tuscaloosa to produce batteries for zero-emission vehicles, Daimler said on Thursday, confirming a Reuters story.

Stuttgart-based Daimler is joining a rush to add car-making capacity in the world’s most profitable vehicle market that most analysts and industry executives expect to contract moderately over the next several years.

Mercedes will offer an electric version of all its models in 2022.

(Reporting by Andreas Cremer; Editing by Tom Sims; Danielle Muoio contributed to this report)

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