Daimler AG (DAI) and German industrial conglomerate Evonik Industries AG said Monday they will team up to jointly develop and produce lithium-ion batteries for electric cars, confirming several media reports published over the weekend.

Company Web site: www.daimler.com

-By Dorothee Tschampa, Dow Jones Newswires; +49 69 29 725 114; dorothee.tschampa@dowjones.com

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