• Mercedes-Benz to build eight battery factories in push to become electric-only automaker by 2030

    2 days ago - By Tech Crunch

    Mercedes-Benz laid out Thursday a 40 billion-euro plan to become an electric-only automaker by the end of the decade, a target that will push the company to become more vertically integrated, train its workforce and secure the batteries needed to power its products.
    The company has already taken action, announcing Thursday it acquired UK-based electric motor company YASA and has determined it will need battery capacity of more than 200 gigawatt hours. To hit meet those needs, Mercedes plans to set up eight battery factories with partners to produce cells.
    The new plants, one of which will...
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  • Mercedes sketches out all-electric scenario by decade's end

    2 days ago - By Chron

    FRANKFURT, Germany - Daimler AG's luxury car brand Mercedes-Benz says it is stepping up its transition to electric cars, doubling the planned share of sales by 2025 and sketching out a market scenario in which new car sales would “in essence” be fully electric by the end of the decade.
    The shift to electric vehicles “is picking up speed - especially in the luxury segment, where Mercedes-Benz belongs," said Ola Källenius, CEO of Daimler AG and Mercedes-Benz AG. ”The tipping point is getting closer and we will be ready as markets switch to electric-only by the end of this decade."
    The...
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