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Mercedes-Benz on Thursday became the latest automaker to unveil plans for greater investment in electric vehicles, saying it hopes to shift to manufacturing only electric vehicles by 2025.
The Germany-based company said in a press release that by the end of the decade it hopes “switch to all-electric ”in its car sales, until“ market conditions allow ”this transition.
Mercedes said that by 2022 the company will have battery electric vehicles “in all segments served by the company,” adding that from 2025, customers “will be able to choose an all-electric alternative for every model manufactured by the society “.
“EV shifting is picking up speed – especially in the luxury segment, to which Mercedes-Benz belongs, ”said Ola Källenius, CEO of Mercedes and its parent company, Daimler AG.
“The tipping point is approaching and we will be ready as markets switch to electricity only by the end of this decade,” he added.
“By managing this faster transformation while maintaining our profitability goals, we will ensure the lasting success of Mercedes-Benz,” he continued. “With our highly skilled and motivated workforce, I am confident that we will be successful in this exciting new era. “
Mercedes said Thursday that in order to ease the shift to electric vehicles, the company will invest more than 40 billion euros, or about $ 47 billion, in research and development projects.
General Motors, Stellantis and Renault have all made similar commitments to move away from internal combustion engines and invest in battery-electric vehicles amid increasing pressure to reduce carbon emissions and other vehicle-induced pollution.
Stellantis was the latest to announce a similar commitment to sustainability, announcing earlier this month plans to invest € 30 billion, or roughly $ 35 billion, in “electrification and software ”until 2025.
The Amsterdam-based automaker also said at the time that it was aiming for low-emission vehicles to account for 70% of European sales and more than 40% of US sales by 2030.
Democrats aimed to pass legislation that would help support business investment in zero emission vehicles and electric batteries.
While Republicans have argued that these changes could lead to lost earnings and lower jobs in the United States, Rep. Debbie dingell
Deborah (Debbie) Ann Dingell Mercedes-Benz Going All-Electric by 2025 Balance / Sustainability – Presented by NextEra Energy – West Coast Wildfires Trigger Air Quality Alerts on East Coast House Adopts A Bill Requiring EPA to Regulate “Chemicals Forever” in Drinking Water | Granholm announces new building energy codes PLUS (D-Mich.) Rebuffed that claim on Tuesday, saying, “We don’t have to choose the environment or the jobs. We can have both.
Dingell is a sponsor of the Advanced Technology Vehicle Manufacturing Future Act, which would expand the Advanced Technology Vehicles Manufacturing Loan Program to help increase business spending in the development of electric vehicles.
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