Mercedes-Benz maker Daimler plans to invest more than EUR 40 billion (roughly 3,50,440 crores) by 2030 to be ready to take on Tesla in an all-electric car market.

source https://gadgets.ndtv.com/transportation/news/mercedes-benz-daimler-all-electric-production-vehicle-car-eur-40-billion-2030-tesla-battery-plant-2493620#rss-gadgets-all