By Anthony Shevlin

Daimler AG (DAI.XE) said Thursday that its wholly owned subsidiary Mercedes-Benz Energy GmbH and Beijing Electric Vehicle Co. have started a development partnership on second-life battery storage.

The German car maker said the partnership will see a consolidation of expertise and resources regarding the value-chain of automotive battery systems, while laying the groundwork for a sustainable renewable energy development.

This project will serve as the basis for other types of cooperation in the future, the company said.

Write to Anthony Shevlin at anthony.shevlin@dowjones.com; @anthony_shevlin

(END) Dow Jones Newswires

August 08, 2019 02:59 ET (06:59 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
Mercedes Benz (PK) (USOTC:DMLRY)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Mercedes Benz (PK) Charts.
Mercedes Benz (PK) (USOTC:DMLRY)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Mercedes Benz (PK) Charts.