Daimler said Thursday that its Mercedes-Benz brand plans to go fully electric by the end of the decade, as long as “market conditions allow” the transition. Beginning in 2025, Daimler said all of Mercedes-Benz’ “newly launched vehicle architectures will be electric-only.”
“The EV shift is picking up speed — especially in the luxury segment, where Mercedes-Benz belongs,” Ola Källenius, CEO of both Daimler and Mercedes-Benz, said in a statement. “The tipping point is getting closer and we will be ready as markets switch to electric-only by the end of this decade.”
The Germany-based automaker said it plans to launch three electric-only architectures in 2025: MB.EA, which will relate to medium and large passenger cars; AMG.EA, which will be dedicated to performance vehicles; and VAN.EA, for light commercial vehicles and vans.
The company said it will be investing more than 40 billion euros, or roughly $47 billion, in research and development projects between 2022 and 2030 in order to facilitate the shift to electric vehicles.
“By managing this faster transformation while safeguarding our profitability targets, we will ensure the enduring success of Mercedes-Benz,” Källenius continued. “Thanks to our highly qualified and motivated workforce, I am convinced that we will be successful in this exciting new era."