Sep 19, 2019, 3:32pm ET R&D resources are now shifting toward electric motors and batteries. Daimler is joining the growing list of automakers that appear to be going all-in on electric vehicles.Speaking to Germany’s Auto Motor und Sport, Daimler development chief Markus Schaefer confirmed that the company will stop putting development resources into internal-combustion engines.The automaker plans to maintain a relatively high R&D budget, now focused on developing electric motors, batteries and related technologies.Most major automakers believe internal-combustion engines will continue to dominate sales for a while. Daimler recently completed development of a new range of internal combustion engines, providing plenty of powerplants to use in both hybrid and non-hybrid applications. The company is also prepared to resume development if necessary down the road.Volkswagen believes the market is near a tipping point that will accelerate EV adoption once the technology reaches price parity with internal-combustion vehicles. Governments across the globe have also begun talking about outright bans on fossil-fueled cars.
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