Mercedes-Benz said it is gearing up to go all-electric by the end of the decade, announcing that it plans to invest more than $47 billion between 2022 and 2030 into battery electric vehicles
Mercedes-Benz AG said it is gearing up to go all-electric by the end of the decade, the latest move by an auto maker to accelerate its transition to plug-in cars.
The Daimler AG flagship said Thursday that it plans to invest more than €40 billion, or more than $47 billion, between 2022 and 2030 in battery electric vehicles to reshape its business around producing electric vehicles. The target signifies a shift from an electric-first to an electric-only approach, the company said.
As part of that plan, the company said all newly launched vehicle platforms will be electric-only from 2025, and customers will be able to pick electric versions for every model the company makes. Combustion-engine vehicles will still be available for purchase as long as there is demand, but Mercedes-Benz isn’t planning to develop new models of fuel-powered vehicles beyond 2030, Daimler said.
The company said eight Mercedes-Benz electric-vehicle models will be made at seven locations on three continents as soon as next year. Mercedes-Benz said it plans to set up eight factories for producing battery cells, as it will need a battery capacity of more than 200 gigawatt hours for the entire vehicle fleet.
Part of the plan is to expand the company’s charging network for vehicles, it said. Customers will get access to Royal Dutch Shell PLC’s more than 30,000 charge points in Europe, China and North America by 2025, Mercedes-Benz said.
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