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Mercedes-Benz owner Daimler AG (XETRA: DAI) has announced a plan to invest $1bn to produce electric cars in the US, Bloomberg reports.

Mercedes is boosting its electric car investments in America and in China.

In the US, it builds the GLE and GLS SUV models and the GLE coupe at a factory in Alabama.

Mercedes says it will invest $1 billion to make the Tuscaloosa plant in Alabama ready to build electric cars and to build a battery factory nearby with a target date for the start of production in 2020.

The company says the expansion will create 600 new jobs in the area.

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