Mercedes-Benz accelerates electric vehicle investment

Marco Green
March 31, 2017

The company said it expects Mercedes-Benz Cars to bring more than 10 new electric cars to market by 2022 through 10 billion euros ($10.8 billion) of investment, having previously aimed to achieve the target by 2025. The expedited time frame reflects the urgency facing manufacturers as they brace for a shift away from traditional automotive technologies.

But "no-one can say for certain how long it will take for electric cars to outnumber conventional motors on the market", Zetsche said, promising to "use all available means to reduce carbon dioxide" emissions, including more efficient combustion engines and "modern" diesels "emitting significantly less CO2 than petrol engines". Daimler also anticipates slight revenue growth in 2017.

Also in April previous year, Daimler opened an internal investigation headed by a law firm into how its cars' polluting emissions were certified in the U.S., at the request of American authorities. In its home region, Daimler needs to reach 100 grams per kilometer by 2021 or face fines.

While Daimler claims - for the Mercedes-Benz Cars subsidiary (includes Smart) leadership of the worldwide luxury segment ahead of the BMW brand alone (the latter claim supremacy as a group, including Rolls-Royce and Mini), the company had to make a somewhat embarrassing announcement recently.

"Among development teams, especially in diesel, there are signs there's less to do as electrification is starting to have an impact", Roman Zitzelsberger, a union representative on Daimler's supervisory board, told reporters in Berlin Tuesday.

The spectacularly-moustachioed CEO prefers to emphasise Daimler's bets on a high-tech future, including autonomous driving and "mobility services" like taxi-hailing and vehicle sharing apps - aimed at customers "who don't necessarily want to have a auto of their own".

To bridge the gap toward an era of fully electric vehicles, Daimler is also continuing to develop plug-in hybrids.

Key drivers behind the company's sales growth was new Mercedes E-Class Sedan and Wagon models, as well as growing demand for its SUV range. If you are reading this news story on another domain, it was illegally copied and reposted in violation of USA and worldwide copyright & trademark legislation.

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