Porsche has proved relatively resilient to the global semiconductor shortage thus far this year.
Mercedes-Benz vowed to spend more than $47 billion this decade to electrify its lineup.
Porsche is working in a joint venture with German lithium-ion specialist Custom Cells GmbH.
Mercedes-Benz is about to unveil a new flagship model it expects to have market-leading battery range.
The company’s Maybach brand currently is reserved only for its most exclusive vehicles.
The company had record deliveries last year and predicts its first all-electric model, the Taycan, will generate further growth in 2020.
Mercedes-Benz has been top dog for four consecutive years.
The industry is sputtering as trade tensions and tariffs raise costs and stifle investment.
The company wants to offer a slightly more accessible alternative.
After a scandal at Volkswagen, its premium car unit must polish its image.
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