In a bombshell announcement, German luxury automaker Mercedes-Benz has outlined its plans to champion electric vehicles and say farewell to internal combustion engine (ICE) vehicles for good.
By next year, Mercedes-Benz says that they intend to offer battery electric vehicles (BEV) in all segments served. From 2025 onwards, all newly launched vehicle architectures will be exclusively electric and customers will also be able to select an all-electric alternative for every ICE model.
In total, an investment of over €40 billion will be made between 2022 and 2030 to achieve their all-electric goal. The money will go into projects such as building eight Gigafactories for producing cells and setting up 530,000 AC and DC charging points globally.
“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,” says Ola Källenius, CEO of Daimler AG and Mercedes-Benz AG. “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. Thanks to our highly qualified and motivated workforce, I am convinced that we will be successful in this exciting new era.”
