Tesla says the battery will store more energy, halve battery costs and drive a 100-fold increase in battery production by 2030.
Mercedes, which did not disclose the location of Envision's new U.S. cell factory, also flipped the switch on a new battery assembly plant located on 270 acres near its vehicle factory.
The $1.3 billion plant will eventually make batteries for as many as 1.2 million hybrid, plug-in hybrid and BEVs per year, the automaker said.
CEO Ola Källenius, speaking during the company's opening of its first U.S. EV battery factory, also affirmed the company's 2022 financial outlook remained in place despite the conflict.
Japan's Envision AESC will invest $2 billion to build a battery-cell and module plant in Kentucky to supply Mercedes-Benz and multiple other automakers.
The ever-resourceful automaker has found a new way to squeeze more life from the tried-and-true battery technology, giving hybrid vehicles a new lease on life.