Mercedes-Benz Plans to Go All-Electric By 2022

Mercedes-Benz Plans to Go All-Electric By 2022

Mercedes-Benz' popular SmartCar will also be a fully electric line by 2020. "The time is right".

The move comes as China announces its gradual plan to ban the sale of fossil fuel vehicles entirely. The Company is engaged in the development, production and distribution of cars, trucks and vans in Germany, and the management of the Daimler Group. Mercedes will offer no less than 50 hybrid and all-electric passenger car models, according to Zetsche.

Of course, what Volvo was actually saying is that every car in its range would have an electrified version, and that could mean a Battery Electric Vehicle (BEV), hybrid or plug-in hybrid.

Executives aim to find some 4.0 billion euros ($4.8 billion) of savings to maintain the 10-percent margin Daimler achieved in 2016 and 2017 - despite lower profitability from electric cars.

China's vehicle sales numbers have led the world recently, and are increasing at an impressive clip annually, so automakers reconfiguring their long-term strategy to focus on EVs in light of China's favoring of EV tech makes plenty of sense. The urban dweller that needs to get around but doesn't want the hassle of car ownership and the hard-core enthusiast with a huge pile of cash that's looking to go fast and turn heads while still being on the bleeding edge of automotive technology.

Suspicion has since fallen on other manufacturers, including Daimler. France and the U.K. have also expressed plans to phase out fossil fuel cars by 2040. Independent Research GmbH set a €67.00 ($79.76) price target on shares of Daimler AG and gave the stock a "neutral" rating in a research note on Friday, August 25th.

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