Mercedes is Latest To Set EV Targets
July 27, 2021—Mercedes Benz announced Thursday that from 2025 onwards, all newly launched vehicle architectures will be electric-only and customers will be able to choose an all-electric alternative for every model the company makes.
The automaker also plans to spend more than $47.08 billion on electric vehicle advancement between next year and 2030.
"The EV shift is picking up speed— especially in the luxury segment, where Mercedes-Benz belongs. The tipping point is getting closer and we will be ready as markets switch to electric-only by the end of this decade," Ola Källenius, CEO of Daimler AG and Mercedes-Benz AG, said in a statement. "This step marks a profound reallocation of capital. By managing this faster transformation while safeguarding our profitability targets, we will ensure the enduring success of Mercedes-Benz.