CEO's exit costs Hydro One 5 million dollars

By Toronto Star


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After all is said and done, taxpayers will have coughed up close to $5 million to pay former Hydro One CEO Tom Parkinson.

According to figures disclosed to the System for Electronic Document Analysis and Retrieval, a financial information database used by publicly traded companies, Parkinson was to receive a salary of $761,786, a $648,000 bonus and other payments of more than $139,113.

That's in addition to the $3.32 million he received in severance when he resigned in December, amid controversy he improperly billed personal expenses to his secretary's corporate credit card.

The terms of Parkinson's severance also include relocation costs if he decides to return to his native Australia, full benefits for two years, a mortgage interest subsidy of up to $125,000 on his mansion, and pension payments upon retirement, CTV News reported.

In the end, Parkinson will get $4,868,899.

The CEO left his job after the province's auditor general issued a scathing report about his billing practices.

Former Hydro One CEO Eleanor Clitheroe's $30 million wrongful dismissal lawsuit is still before the courts and the government has said Parkinson could have launched similar legal action had he been fired.

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Operating record for Bruce Power as Covid-19 support Council announced

Bruce Power Life-Extension Programme advances Ontario nuclear capacity through CANDU Major Component Replacement, reliable operation milestones, supply chain retooling for COVID-19 recovery, PPE production, ventilator projects, and medical isotope supply security.

 

Key Points

A program to refurbish CANDU reactors, extend asset life, and mobilize Ontario nuclear supply chain and isotopes.

✅ Extends CANDU units via Major Component Replacement

✅ Supports COVID-19 recovery with PPE and ventilator projects

✅ Boosts Ontario energy reliability and medical isotopes

 

Canada’s Bruce Power said on 1 May that unit 1 at the Bruce nuclear power plant had set a record of 624 consecutive days of reliable operation – the longest since it was returned to service in 2012.

It exceeded Bruce 8’s run of 623 consecutive days between May 2016 and February 2018. Bruce 1, a Candu reactor, was put into service in 1977. It was shut down and mothballed by the former Ontario Hydro in 1997, and was refurbished and returned to service in 2012 by Bruce Power.

Bruce units 3 and 4 were restarted in 2003 and 2004. They are part of Bruce Power’s Life-Extension Programme, and future planning such as Bruce C project exploration continues across the fleet, with units 3 and 4 to undergo Major Component Replacement (MCR) Projects from 2023-28, adding about 30 years of life to the reactors.

The refurbishment of Bruce 6 has begun and will be followed by MCR Unit 3 which is scheduled to begin in 2023. Nuclear power accounts for more than 60% of Ontario’s supply, with Bruce Power providing more than 30%   of the province’s electricity.

Set up of Covid recovery council
On 30 April, Bruce Power announced the establishment of the Bruce Power Retooling and Economic Recovery Council to leverage the province’s nuclear supply chain to support Ontario’s fight against Covid-19 and to help aid economic recovery.

Bruce Power’s life extension programme is Canada’s second largest infrastructure project and largest private sector infrastructure programme. It is creating 22,000 direct and indirect jobs, delivering economic benefits that are expected to contribute $4 billion to Ontario’s GDP and $8-$11 billion to Canada’s gross domestic product (GDP), Bruce Power said.

“With 90% of the investment in manufactured goods and services coming from 480 companies in Ontario and other provinces, including recent manufacturing contracts with key suppliers, we can harness these capabilities in the fight against Covid-19, and help drive our economic recovery,” the company said.

“An innovative and dynamic nuclear supply chain is more important than ever in meeting this new challenge while successfully implementing our mission of providing clean, reliable, flexible, low-cost nuclear energy and a global supply of medical isotopes,” said Bruce Power president and CEO Mike Rencheck. “We are mobilising a great team with our extended supply chain, which spans the province, to assist in the fight against Covid-19 and to help drive our economic recovery in the future.”

Greg Rickford, the Minister of Energy, Mines, Northern Development, and Minister of Indigenous Affairs, said the launch of the council is consistent with Ontario’s focus to fight Covid-19 as a top priority and a look ahead to economic recovery, and initiatives like Pickering life extensions supporting long-term system reliability.

The creation of the Council was announced during a live event on Bruce Power's Facebook page, in which Rencheck was joined by Associate Minister of Energy Bill Walker and Rocco Rossi, the president and CEO of the Ontario Chamber of Commerce.

Walker reiterated the Government of Ontario’s commitment to nuclear power over the long term and to the life extension programme, including the Pickering B refurbishment as part of this strategy.

The Council, which will be formed for the duration of the pandemic and will include of all of Bruce Power’s Ontario-based suppliers, will focus on the continued retooling of the supply chain to meet front-line Covid-19 needs to contribute to the province’s economy recovery in the short, medium and long term.

New uses for nuclear medical applications will be explored, including isotopes for the sterilisation of medical equipment and long-term supply security.

The supply chain will be leveraged to support the health care sector through the rapid production of medical Personal Protection Equipment for front line-workers and large-scale PPE donations to communities as well as participation in pilot projects to make ventilators within the Bruce Power supply chain or help identify technology to better utilise existing ventilators;

“Buy Local” tools and approaches will be emphasised to ensure small businesses are utilised fully in communities where nuclear suppliers are located.

The production of hand sanitiser and other cleaning products will be facilitated for distribution to communities.

 

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Transmission constraints impede incremental Quebec-to-US power deliveries

Hydro-Québec Northeast Clean Energy Transmission delivers surplus hydropower via HVDC interconnections to New York and New England, leveraging long-term contracts and projects like CHPE and NECEC to support carbon-free goals, GHG cuts, and grid reliability.

 

Key Points

An initiative to expand HVDC links for Quebec hydropower exports, aiding New York and New England decarbonization.

✅ 37,000 MW hydro capacity enables firm, low-carbon exports

✅ Targets NY and NE via CHPE, NECEC, and upgraded interfaces

✅ Backed by long-term PPAs to reduce merchant transmission risk

 

With roughly 37,000 MW of installed hydro power capacity, Quebec has ample spare capacity that it would like to deliver into Northeastern US markets where ambitious clean energy goals have been announced, but expanding transmission infrastructure is challenging.

Register Now New York recently announced a goal of receiving 100% carbon-free energy by 2040 and the New England states all have ambitious greenhouse gas reduction goals, including a Massachusetts law requiring GHG emissions be 80% below 1990 levels by 2050.

The province-owned company, Hydro Quebec, supplies power to the provinces of Quebec, Ontario and New Brunswick in particular, as well as sending electricity directly into New York and New England. The power transmission interconnections between New York and New England have reached capacity and in order to increase export volumes into the US, "we need to build more transmission infrastructure," Gary Sutherland, relationship manager in business development, recently said during a presentation to reporters in Montreal.

 

TRANSMISSION OPTIONS

Hydro Quebec is working with US transmission developers, electric distribution companies, independent system operators and state government agencies to expand that transmission capacity in order to delivery more power from its hydro system to the US, as the province has closed the door on nuclear power and continues to prioritize hydropower, Sutherland said.

The company is looking to sign long-term power supply contracts that could help alleviate some of the investment risk associated with these large infrastructure projects.

"It`s interesting to recall that in the 1980s, two decade-long contracts paved the way for construction of Phase II of the multi-terminal direct-current system (MTDCS), a cross-border line that delivers up to 2,000 MW from northern Quebec to New England," Hydro Quebec spokeswoman Lynn St-Laurent said in an email.

Long-term prices have been persistently low since 2012, following the shale gas boom and the economic decline in 2008-2009, St-Laurent said. "As such, investment risks are too high for merchant transmission projects," she said.

Northeast power market fundamentals "remain strong for long-term contracts," on transmission projects or equipment upgrades that can deliver clean power from Quebec and "help our neighbors reach their ambitious clean energy goals," St-Laurent said.

 

NEW ENGLAND

In March 2017 an HQ proposal was selected by Massachusetts regulators to supply 9.45 TWh of firm energy to be delivered for 20 years. HQ`s proposal consisted of hydro power supply and possible transmission scenarios developed in conjunction with US partners.

The two leading options include a route through New Hampshire called Northern Pass and New England Clean Energy Connect through Maine.

The New Hampshire Site Evaluation Committee in March 2018 voted unanimously to deny approval of the $1.6 billion Northern Pass Transmission project, which is a joint venture between HQ and Eversource Energy`s transmission business. Eversource has been fighting the decision, with the New Hampshire Supreme Court accepting the company`s appeal of the NHSEC decision in October.

Briefs are being filed and oral arguments are likely to begin late spring or early summer, spokesman William Hinkle said in an email Tuesday.

After the Northern Pass permitting delay, Massachusetts chose the New England Clean Energy Connect project, which is a projected 1,200 MW transmission line, with 1,090 MW contracted to Massachusetts, leaving 110 MW for use on a merchant basis, according to St-Laurent.

NECEC is a joint venture between HQ and Central Maine Power, which is a subsidiary of Avangrid, a company affiliated with Spain`s Iberdrola. The NECEC project has received opposition from some environmental groups and still needs several state and federal permits.

 

NEW YORK

"The 5% of New York`s load that we furnish year in and year out ... is mostly going into the north of the state, it`s not coming down here," Sutherland said during a discussion at Pace University in New York City in 2017.

One potential project moving through the permitting phase, is the $2.2 billion, 1,000-MW Champlain Hudson Power Express transmission line being pursued by Transmission Developers -- a Blackstone portfolio company -- that would transport power from Quebec to Queens, New York.

Under New York`s proposed Climate Leadership Act which calls for the 100% carbon-free energy goal, renewable generation eligibility would be determined by the Public Service Commission. The PSC did not respond to a question about whether hydro power from Quebec is being considered as a potential option for meeting the state`s clean energy goal.

 

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Told "no" 37 times, this Indigenous-owned company brought electricity to James Bay anyway

Five Nations Energy Transmission Line connects remote First Nations to the Ontario power grid, delivering clean, reliable electricity to Western James Bay through Indigenous-owned transmission infrastructure, replacing diesel generators and enabling sustainable community growth.

 

Key Points

An Indigenous-owned grid link providing reliable power to Western James Bay First Nations, replacing polluting diesel.

✅ Built by five First Nations; fully Indigenous-owned utility

✅ 270 km line connecting remote James Bay communities

✅ Ended diesel dependence; enabled sustainable development

 

For the Indigenous communities along northern Ontario’s James Bay — the ones that have lived on and taken care of the lands as long as anyone can remember — the new millenium marked the start of a diesel-less future, even as Ontario’s electricity outlook raised concerns about getting dirtier in policy debates. 

While the southern part of the province took Ontario’s power grid for granted, despite lessons from Europe’s power crisis about reliability, the vast majority of these communities had never been plugged in. Their only source of power was a handful of very loud diesel-powered generators. Because of that, daily life in the Attawapiskat, Kashechewan and Fort Albany First Nations involved deliberating a series of tradeoffs. Could you listen to the radio while toasting a piece of bread? How many Christmas lights could you connect before nothing else was usable? Was there enough power to open a new school? 

The communities wanted a safe, reliable, clean alternative, with Manitoba’s clean energy illustrating regional potential, too. So did their chiefs, which is why they passed a resolution in 1996 to connect the area to Ontario’s grid, not just for basic necessities but to facilitate growth and development, and improve their communities’ quality of life. 

The idea was unthinkable at the time — scorned and dismissed by those who held the keys to Ontario’s (electrical) power, much like independent power projects can be in other jurisdictions. Even some in the community didn’t fully understand it. When the idea was first proposed at a gathering of Nishnawbe Aski Nation, which represents 49 First Nations, one attendee said the only way he could picture the connection was as “a little extension cord running through the bush from Moosonee.” 

But the leadership of Attawapiskat, Kashechewan and Fort Albany First Nations had been dreaming and planning. In 1997, along with members of Taykwa Tagamou and Moose Cree First Nations, they created the first, and thus far only, fully Indigenous-owned energy company in Canada: Five Nations Energy Inc., as partnerships like an OPG First Nation hydro project would later show in action, too. 

Over the next five years, the organization built Omushkego Ishkotayo, the Cree name for the Western James Bay transmission line: “Omushkego” refers to the Swampy Cree people, and “Ishkotayo” to hydroelectric power, while other regions were commissioning new BC generating stations in parallel. The 270-kilometre-long transmission line is in one of the most isolated regions of Ontario, one that can only be accessed by plane, except for a few months in winter when ice roads are strong enough to drive on. The project went online in 2001, bringing reliable power to over 7,000 people who were previously underserved by the province’s energy providers. It also, somewhat controversially, enabled Ontario’s first diamond mine in Attawapiskat territory.

The future the First Nations created 25 years ago is blissfully quiet, now that the diesel generators are shut off. “When the power went on, you could hear the birds,” Patrick Chilton, the CEO of Five Nations Energy, said with a smile. “Our communities were glowing.”

Power, politics and money: Five Nations Energy needed government, banks and builders on board
Chilton took over in 2013 after the former CEO, his brother Ed, passed away. “This was all his idea,” Chilton told The Narwhal in a conversation over Zoom from his office in Timmins, Ont. The company’s story has never been told before in full, he said, because he felt “vulnerable” to the forces that fought against Omushkego Ishkotayo or didn’t understand it, a dynamic underscored by Canada’s looming power problem reporting in recent years. 

The success of Five Nations Energy is a tale of unwavering determination and imagination, Chilton said, and it started with his older brother. “Ed was the first person who believed a transmission line was possible,” he said.

In a Timmins Daily Press death notice published July 2, 2013, Ed Chilton is described as having “a quiet but profound impact on the establishment of agreements and enterprises benefitting First Nations peoples and their lands.” Chilton doesn’t describe him that way, exactly. 

“If you knew my brother, he was very stubborn,” he said. A certified engineering technologist, Ed was a visionary whose whole life was defined by the transmission line. He was the first to approach the chiefs with the idea, the first to reach out to energy companies and government officials and the one who persuaded thousands of people in remote, underserved communities that it was possible to bring power to their region.

After that 1996 meeting of Nishnawbe Aski Nation, there came a four-year-long effort to convince the rest of Ontario, and the country, the project was possible and financially viable. The chiefs of the five First Nations took their idea to the halls of power: Queen’s Park, Parliament Hill and the provincial power distributor Hydro One (then Ontario Hydro). 

“All of them said no,” Chilton said. “They saw it as near to impossible — the idea that you could build a transmission line in the ‘swamp,’ as they called it.” The Five Nations Energy team kept a document at the time tracking how many times they heard no; it topped out at 37. 

One of the worst times was in 1998, at a meeting on the 19th floor of the Ontario Hydro building in the heart of downtown Toronto. There, despite all their preparation and planning, a senior member of the Ontario Hydro team told Chilton, Martin and other chiefs “you’ll build that line over my dead body,” Chilton recalled. 

At the time, Chilton said, Ontario Hydro was refusing to cooperate: unwilling to let go of its monopoly over transmission lines, but also saying it was unable to connect new houses in the First Nations to diesel generators it said were at maximum capacity. (Ontario Hydro no longer exists; Hydro One declined to comment.)

“There’s always naysayers no matter what you’re doing,” Martin said. “What we were doing had never been done before. So of course people were telling us how we had never managed something of this size or a budget of this size.” 

“[Our people] basically told them to blow it up your ass. We can do it,” Chilton said.

So the chiefs of the five nations did something they’d never done before: they went to all of the big banks and many, many charitable foundations trying to get the money, a big ask for a project of this scale, in this location. Without outside support, their pitch was that they’d build it themselves.

This was the hardest part of the process, said Lawrence Martin, the former Grand Chief of Mushkegowuk Tribal Council and a member of the Five Nations Energy board. “We didn’t know how to finance something like this, to get loans,” he told The Narwhal. “That was the toughest task for all of us to achieve.”

Eventually, they got nearly $50 million in funding from a series of financial organizations including the Bank of Montreal, Pacific and Western Capital, the Northern Ontario Heritage Fund Corporation (an Ontario government agency) and the engineering and construction company SNC Lavalin, which did an assessment of the area and deemed the project viable. 

And in 1999, Ed Chilton, other members of the Chilton family and the chiefs were able to secure an agreement with Ontario Hydro that would allow them to buy electricity from the province and sell it to their communities. 

 

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Ontario will not renew electricity deal with Quebec

Ontario-Quebec Electricity Trade Agreement ends as Ontario pivots to IESO procurement, hydropower alternatives, natural gas capacity, and energy auctions, impacting grid reliability, power imports, and GHG emissions across both provincial markets.

 

Key Points

A seven-year power import pact; Ontario will end it, shifting to IESO procurement and gas capacity.

✅ Seasonal hydropower exchange of 2.3 TWh annually.

✅ IESO projects Quebec supply constraints by decade end.

✅ Ontario adds gas, auctions; near-term sector GHGs rise.

 

The Ontario government does not plan to renew the Ontario-Quebec electricity trade agreement, Radio-Canada is reporting.

The seven-year contract, which expires next year, aims to reduce Ontario's greenhouse gas (GHG) emissions by buying 2.3 Terawatt-hours of electricity from Quebec annually — that corresponds to about seven per cent of Hydro-Quebec's average annual exports.

The announcement comes as the provincially owned Quebec utility continues its legal battle over a plan to export power to Massachusetts.

The Ontario agreement has guaranteed a seasonal exchange of energy, since Quebec has a power surplus in summer, and the province's electricity needs increase in the winter. Ontario plans on exercising its last and only option in the summer of 2026, for a block of 500 megawatts.

The office of the Ontario Minister of Energy Todd Smith says the province will save money by relying "on a competitive procurement process" instead, amid debates over clean, affordable electricity policy in Ontario. And, the Independent Electricity System Operator (IESO), the equivalent of Hydro-Quebec in Ontario, added that, at any rate, Quebec is expected to "run out of electricity in the middle or at the end of the decade."

During the Quebec election campaign, Premier Francois Legault said his province needed to increase hydroelectricity production because he is expecting demand for hydroelectricity to increase by an additional 100 terawatt-hours in the coming decades — half of Hydro-Quebec's current annual output.

Coalition Avenir Quebec pitches more hydro dams to Quebec voters
The provinces will still continue to buy and sell power, reaching deals through annual energy auctions.

Eloise Edom, an associate researcher at Polytechnique Montreal's Institut de l'energie Trottier, says the announcement came as somewhat of a surprise because "we're still talking about a lot of energy."

Hydro-Quebec refused to comment on "the SIERE [Independent Electricity System Operator]'s intentions for the agreement, which ends next year," said company spokesperson Lynn St-Laurent.

No green options
Yet Ontario is running out of electricity, even as questions persist about whether it is embracing clean power to meet demand, in part because of plans to refurbish nuclear reactors at the Bruce and Darlington generator stations.

Windsor has already lost out on a $2.5-billion factory because the region is short of electricity for new industrial loads. And by 2025, Toronto will run out of power for the electrification of its transit system, according to the latest estimates from the IESO.

The Ford government recently announced that it hopes to extend the life of the Pickering nuclear station amid ongoing debate. It is also evaluating the possibility of increasing hydroelectricity production at its existing dams.

For now, Ontario is banking on its natural gas plants to meet demand, which have won most recent IESO tenders for contracts running until 2026. Last Friday, the province announced that it was going to buy an additional 1,500 megawatts by 2027.

"The [Ontario energy] minister's expectations may be that the increase in natural gas prices is temporary and that it will fade," energy economist Jean-Thomas Bernard said. "With this in mind, he probably does not want to sign a long-term contract [with Hydro-Quebec] and prefers to buy electricity on a day-to-day basis and through calls for tenders."

If the Quebec deal expires, Ontario, Canada's second highest GHG emitter, would have to increase its emissions for the sector, at least in the medium term, with electricity getting dirtier as gas fills the gap.

Last year, the IESO found that it would be very difficult to set a moratorium on natural gas before 2030. The IESO must produce a final report on the subject for the energy minister by the end of November.


 

 

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External investigators looking into alleged assaults by Manitoba Hydro workers

Manitoba Hydro Allegations Investigation reveals RCMP and OPP probes into 1960s abuses in northern Manitoba, affecting Fox Lake Cree Nation, citing racism, discrimination, sexual assault, and oversight by the IIU and Clean Environment Commission.

 

Key Points

A coordinated probe into historic abuses tied to Manitoba Hydro projects, led by OPP and IIU after RCMP referral.

✅ OPP to investigate historical cases involving Hydro staff and contractors.

✅ IIU to examine any allegations implicating Manitoba RCMP officers.

✅ Findings follow CEC report on racism and abuse near Fox Lake.

 

Manitoba RCMP have called in outside investigators to probe alleged assaults linked to hydro projects in the province’s north during the 1960s.

RCMP say any historical criminal investigations involving Manitoba Hydro employees or contractors will be handled by the Ontario Provincial Police.

The Independent Investigation Unit of Manitoba, the province’s police watchdog, will investigate any allegations involving RCMP officers.

A report released last month by an arm’s-length review agency outlined racism, discrimination and sexual abuse at the Crown-owned utility’s work sites dating back decades, while projects like Site C COVID-19 updates provide contemporary examples of reporting.

Much of the development at that time was centered around the community of Gillam and the nearby Fox Lake Cree Nation.

The report said the presence of a largely male construction workforce led to the sexual abuse of Indigenous women, some of whom said their complaints were ignored by the RCMP, and in a different context, Hydro One worker injury highlights safety risks in the sector.

Premier Brian Pallister says his government is taking the right approach to addressing alleged sexual assaults and racism by Manitoba Hydro workers against members of a remote northern First Nation, while pandemic cost-cutting at Manitoba Hydro has shaped recent operations.

Pallister made his first public comments about the allegations after a private meeting with Prime Minister Justin Trudeau on Tuesday evening, as COVID-19 reshaped Saskatchewan and other Prairie priorities were in focus.

The allegations, made by members of Fox Lake Cree Nation, were revealed in a report produced by the Clean Environment Commission. The report was released by the provincial government in August, although it was completed in May.

Allegations against Manitoba Hydro workers: What you need to know

"My reaction would be that's deplorable behaviour, and I have to admit, my puzzlement is why this wasn't investigated sooner or didn't come to light sooner," Pallister said, adding that he believes his government has taken the right approach by referring the information to the RCMP.

Some members of Fox Lake Cree Nation say the government didn't give them any advance notice of the release of the report, so the community was traumatized when it hit the news.

Pallister said his government didn't want to delay the release of the report.

'Pure trauma': Fox Lake members stricken after hasty release of troubling report

"I think the right thing to do is release the report. A lot of this information was in the public domain over the last number of weeks and months anyway. It wasn't the case of it being new in that respect," he said.

However, he accepted criticism of the timeline of the report's release.

"I would rather accept those criticisms, than accept the argument that we were in any way covering up information that is important to be released," he said.

Fox Lake Chief Walter Spence has said he expects Pallister to visit the community.

The premier said Tuesday he was not sure of the effectiveness of such a trip.

"I think most of the communities would prefer that there be electricity jobs for young Canadians created in their communities, that there be better water, many other tangible things rather than symbolism," he said.

"That's what I'm hearing and I've been in dozens of First Nations communities in the last two years."

 

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Daimler Details Gigantic Scope of Its Electrification Plan

Daimler Electric Strategy drives EV adoption with global battery factories, Mercedes-Benz electrified models, battery cells procurement, and major investments spanning vans, buses, trucks, and production capacity across Europe, Asia, and the USA.

 

Key Points

Daimler Electric Strategy is a multi-billion EV roadmap for batteries, factories, and 130 electrified Mercedes models.

✅ Eight battery factories across three continents

✅ EUR 10B for EV lineup; EUR 20B for battery cells

✅ 130 electrified variants plus vans, buses, trucks

 

Throughout 2018, we all witnessed the unprecedented volume of promises for a better future made by the giants of the auto industry. All say they've committed billions so that, within a decade, combustion engines will be on their way out.

The most active of all companies when talking about promises is Volkswagen, which, amid German plant closures, time and time again has said it will do this or that and completely change the meaning of car in the coming years. But there are other planning the same thing, possibly with even vaster resources.

Planning to end the year on a high note, Daimler detailed its plan for the electric future once again on Tuesday, this time making no secret of its gigantic size and scope.

As announced before, Daimler plans to build electric cars, but also manufacture electric batteries for its own and others’ use, and has launched a US energy storage company to support this strategy. These batteries will eventually be produced by Daimler in eight factories on three continents.

Batteries are already rolling off the lines in Kamenz, and a second facility will begin doing so next year. Two more factories will be built in Stuttgart-Untertürkheim, one at the company’s Sindelfingen site, and one each at the sites in Beijing (China), Bangkok (Thailand) and Tuscaloosa (USA).

In all, one billion EUR will be invested in the expansion of the global battery production network, but that is nothing compared to the 10 billion to be poured into the expansion of the Mercedes-Benz car fleet.

On top of that, 20 billion EUR will go towards the purchase of battery cells from producers all around the world, echoing other automakers' battery sourcing strategies worldwide over the next 12 years.

“After investing billions of euros in the development of the electric fleet and the expansion of our global battery network, we are now taking the next step,” said in a statement Dieter Zetsche, Daimler chairman of the board.

“With the purchase of battery cells for more than 20 billion euros, we are systematically pushing forward with the transformation into the electric future of our company.”

By 2022, the carmaker plans to launch 130 electrified variants of its cars, as cheaper, more powerful batteries become available, adding to them electric vans, buses and trucks. That pretty much means all the models and variants sold by Daimler globally will be at least partially powered by electricity.

 

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