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.

News related to Daimler, Mercedes or Mercedes-Benz

The world's most valuable luxury automotive brand finished 2022 with a strong final quarter, delivering 540,800 Mercedes-Benz Passenger Cars (+17%) to customers and achieving a rise in Top-End and Battery Electric Vehicle (BEV) sales. The October to December period marked the best quarter in 2022 for Top-End vehicles with sales up 14% thanks to robust demand in most regions, despite ongoing COVID meaures...

10 January 2023

In his remarks during the Mercedes-Benz tech talks at CES 2023, Chief Technology Officer Markus Schäfer revealed plans for a Mercedes-Benz branded high-power charging network starting this year in North America. Rollout in Europe, China and other main markets will follow. The North American network is scheduled for completion by 2027, by which time a total of more than 400 hubs with more than 2,500 high-power...

6 January 2023

Mercedes-Benz announced the launche of Europe-wide sales of the EQE SUV from Mercedes‑EQ and Mercedes‑AMG. This is the all-rounder model variant of the EQE business saloon. Like the latter, it is available with the key innovations of the EQS, while being more dynamic than the EQS SUV. In Germany, the sales release will start with the AMG EQE 43 4MATIC, with further models available to order from spring 2023. Base...

16 December 2022

Mercedes-Benz continues to realign its global production network towards electric vehicles as the world's most valuable luxury car brand prepares to go fully electric by the end of the decade - wherever market conditions allow. Mercedes-Benz has retooled its production setup for electric drive systems (batteries, electric drive units and axles) from 2024, following the realigned production setup for electric...

14 December 2022

The new EQE Sedan is the latest all-electric model from Mercedes-Benz based on the Mercedes-EQ premium-class electric architecture (EVA2). The sporty 'purpose design' exhibits all the characteristic elements of Mercedes-EQ, including aerodynamic one-bow lines and a striking cab- forward design. Starting from $74,900, and with up to 305 miles of range according to EPA estimates, the 2023 EQE Sedan is poised to set...

2 November 2022

Mercedes-Benz AG finalised a supply agreement with Canadian-German-start-up Rock Tech Lithium Inc. to secure high-quality lithium used in battery production as part of a direct sourcing approach. Starting in 2026, including a qualification period, this allows the Stuttgart-based luxury carmaker to get its battery partners supplied with raw material to rapidly scale up its production of fully electric vehicles...

20 October 2022

Mercedes-AMG presents the EQE SUV, a further milestone in its electrification strategy – the first all-electric SUV from the performance and sports car brand. With its variable interior and performance-oriented drive concept, it is the most versatile electric vehicle in the Mercedes-AMG portfolio. The new model also offers generous space for passengers and luggage. Like the AMG EQS Saloon and AMG EQE Saloon, the AMG...

17 October 2022

Europe's passenger EV sales increased by 16% YoY in Q2 2022, according to the latest research from Counterpoint's Global Passenger Electric Vehicle Model Sales Tracker. Battery electric vehicles (BEVs) accounted for 55% of total EV sales during the quarter. Germany, with a 28% share, remained the European EV market leader, followed by France with 16%, and the UK with 14%. Among other European nations, Spain and the...

14 October 2022

Mercedes-Benz Passenger Cars deliveries reached 517,800 units (+21%) in the July to September period, the strongest sales quarter in 2022 so far even as production and sales continue to be affected by semiconductor shortages and disrupted supply chains. Mercedes-Benz is transforming at full speed: On the way towards a fully electric future, Mercedes-Benz Passenger Cars increased Battery Electric Vehicle (BEV) sales...

12 October 2022

The EQS SUV offers plenty of space, comfort, and connectivity for up to seven vehicle occupants in its avant-garde, luxurious interior. Thanks to powerful electric motors, responsive 4MATIC all-wheel drive, and an intelligent offroad driving mode, this model is also capable of tackling light terrain with ease. At market launch, the model range comprises three variants: Mercedes Benz EQS 450+ and Mercedes Benz EQS...

30 September 2022

On Sunday, October 16, 2022, at 8:00 pm (CEST), Mercedes‑Benz and Mercedes‑AMG will unveil the new EQE SUV on the Mercedes me media platform and other digital channels. The new EQE SUV is the all-round EV model for both brands, expressed in the world premiere film through an entertaining alternation between dream scenes and reality. The fourth model on the electric vehicle architecture provides SUV enthusiasts with...

27 September 2022

Mercedes-Benz Vans and Rivian have signed a Memorandum of Understanding to initiate a strategic partnership. The partnership will enable the companies to cooperate on the production of electric vans. Subject to the parties entering into final binding agreements and to obtaining the relevant regulatory clearances, the companies intend to establish a new joint venture manufacturing company with the purpose of...

8 September 2022

Mercedes‑Benz Vans is adapting its European production setup as part of its strategy to attain leadership in electric mobility and to phase out fossil fuels. Mercedes-Benz Vans is already electrifying all of its model lines and offers all models in the mid-sized and large van segments with an electric drive. By the middle of this decade, all newly introduced vans by Mercedes-Benz will be electric only. To this end...

8 September 2022

The first all-electric Mercedes-EQ built in the United States, the new EQS SUV, has been successfully launched at the Tuscaloosa plant. Mercedes-Benz is exclusively producing the all-electric EQS SUV at its North American passenger vehicle plant. These vehicles rolling off the line is a key step in Mercedes-Benz Cars’ global initiative to produce eight all-electric vehicles at seven sites on three continents this...

26 August 2022