Thomas Weber, head of research and development at Daimler, said in an interview with German media that the company plans to invest up to 10 billion euros to develop electric vehicles.
Weber said: "By 2025, we hope to develop 10 electric vehicles based on the same architecture. For this we will invest up to 10 billion euros."
He added that three of the models will be Smart mini-cars, which will have a cruising range of 700 kilometers.
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