Mercedes-Benz Doubles Production Capacity At Untertürkheim Plant - Mercedes-Benz Group (OTC:MBGYY)

Mercedes Benz Group ADR MBGYY is planning to double its electric drive units production capacity.
The new works agreement calls for doubling the production capacity of electric drive units for Mercedes-EQ vehicles from 2024.
In the target scenario, 1 million electric drive units can be produced, for example for vehicles on the MMA (Mercedes Modular Architecture) platform.
The company plans to begin construction of the new assembly lines on the site of the Untertürkheim plant, as well as the Bad Cannstatt plant, next year.
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The Mercedes-Benz Untertürkheim plant is the largest location in the global Mercedes-Benz powertrain production network.
With its approximately 16,000 employees, the plant currently produces engines, batteries, axles, transmissions and components.
"With production volumes for our new Mercedes-EQ models, we are making our traditional location in the Neckar Valley fit for the future and continuing its success story," said Jörg Burzer, Member of the Board of Management of Mercedes-Benz Group AG, responsible for Production and Supply Chain Management.
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Price Action: MBGYY shares closed lower by 0.71% at $16.78 on Monday.
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