Mercedes-Benz to invest 60 billion euros to go fully electric

3 December 2021, 04:22:15

Daimler AG's Supervisory Board, at its meeting on December 2, approved the Mercedes-Benz Business Plan for 2022 to 2026, endorsing the strategic plan for Mercedes-Benz to go fully electric. Following the Daimler Truck spin-off, Mercedes-Benz will consistently focus on profit and growth opportunities in the passenger car and vans businesses. The most valuable luxury brand in the world will strive for leadership in the area of electric drives and car software.

For the transformation into a software-driven and emissions-free future, the Supervisory Board signed off on an investment plan for the years 2022 to 2026 of more than 60 billion euros. Although the company plans to reduce capex, research and development expenditure for the electrification of the product portfolio and digitalization measures, including steps towards automated driving, will remain at a high level.

Mercedes-Benz is preparing to go all-electric by the end of the decade, wherever market conditions allow. Against this background, the Supervisory Board supports existing measures to consistently increase efficiency and to lower fixed costs, as was communicated during the Mercedes-Benz Strategy Update on October 6, 2020 and reiterated on July 22, 2021. At the same time, the investment plan for 2022 to 2026 remains in line with the goal of cutting capex and research and development spending by more than 20 percent between 2019 and 2025 and to further reduce it beyond this date.

The key to achieving this is stringent prioritization of future investments – mainly by focusing on electric mobility. The company expects that the use of standardized battery platforms and scalable vehicle architectures - together with advances in battery technology - will contribute to a reduction in the variable costs of vehicles. The proportion of battery costs in a vehicle is expected to decrease significantly this decade.

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