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Mercedes Plunks Down $1 Billion Investment In Alabama For Electric SUVs

Money / 5 Comments

Tesla's worst nightmare might be exported to North America from Forrest Gump country.

If anything about the future can be predicted by the hand of cards the present currently holds, it'd be wise to assume that everyone will be riding around in shared self-driving electric SUVs as long as nuclear war or chaotic natural disasters don't mow us all down before that. That kind of upheaval has the ability to make or break even the largest companies in the world, so to secure a future for itself, Reuters claims that Daimler is investing big bucks in self-driving electric SUVs.

Executives at the Auto Giant have just signed a check to the tune of $1 billion dollars to expand a US-based Mercedes plant in Vance, Alabama where the Silver Star plans to build its EQ crossover. First launched at the 2017 Paris Motor Show as the Mercedes-Benz Generation EQ, the EQ Crossover is slated to be a fully electric luxury vehicle that'll go toe to toe with the Jaguar I-Pace and be given the tall proportions that car customers seem to be snapping up like crazy these days. To ensure it's stuffed with the latest technology Mercedes can muster, part of that $1 billion is being set aside to build a battery factory adjacent to the facility. In total, the state of Alabama will gain around 600 jobs due to the investment.

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"With this one billion dollar investment, we are significantly growing our manufacturing footprint here in Alabama, while sending a clear message to our customers across the U.S. and around the world: Mercedes-Benz will continue to be on the cutting-edge of electric vehicle development and production," said Mercedes board member Markus Schäfer. "With production locations for EVs and batteries in Europe, China and, now, the U.S., our global network is ready for the era of electric vehicles." All of this is part of Mercedes' plan to have at least one electrified version of every vehicle in its lineup by 2022. If all goes to that plan, these electric SUVs will what moves the next generation of luxury customers. That could mean you.