Mercedes-Benz Will Spend a Whopping $47 Billion to Build a Fully Electric Fleet by 2030

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Mercedes-Benz Will Spend a Whopping $47 Billion to Build a Fully Electric Fleet by 2030
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The marque says it's switching from electric-first to electric-only.

platforms for cars, vans and light commercial vehicles. It will also stop developing powertrains for internal combustion engines the same year. In addition, the marque says customers will be able to choose an all-electric alternative for every model the company makes from 2025 onwards.The German outfit and its partners also plan to set up eight factories across Europe that will focus on the development and production of battery cells and electric motors.

The marque is currently working with Shell to expand its charging network that currently comprises more than 530,000 AC and DC charging points worldwide. It also plans to streamline the chargers to make them easier for drivers to use. “The EV shift is picking up speed—especially in the luxury segment, where Mercedes-Benz belongs,” Ola Källenius, CEO of Daimler AG and Mercedes-Benz AG, said in a. “The tipping point is getting closer, and we will be ready as markets switch to electric-only by the end of this decade.”

Mercedes did add one caveat: The transition to a solely electric fleet by 2030 will depend on “market conditions.” Of course, given that the UK and the European Union will effectively ban new cars with internal combustion engines in 2030 and 2035, respectively, the demand for battery-powered cars is only expected to rise. Various states across the US, including California and Massachusetts, will also ban the production of gas-powered vehicles by 2035.

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