Daimler, Mercedes-Benz’s parent company, announced a new investment plan worth €70 billion ($85 billion USD) for the years 2021 through 2025.

The automaker says that most of the investment will be used “to accelerate the transformation towards electrification and digitization.

After what Daimler’s work council described as “controversial discussions”, they came to an agreement with the Supervisory Board of Daimler AG and they have now approved a new budget for 2021 through 2025.

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Daimler Invests $85 Billion To Catch Up With Tesla

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