The push to go electric isn’t slowing down, with some of the biggest car companies in the world announcing their road-map for electrification, today, Mercedes doubled down on their plans with a shift to a fully electric range by 2030.
The $64,000,000,000 plan includes a radical shift in how Mercedes allocates its capital funding.
In just over three years Mercedes-Benz will launch three electric-only architectures on which all their new models will be based on.
The theory is that there will be an all-electric version of every single model the company makes.
Ola Källenius, CEO of Daimler AG and Mercedes-Benz AG says “The EV shift is picking up speed – especially in the luxury segment, where Mercedes-Benz belongs. The tipping point is getting closer and we will be ready as markets switch to electric-only by the end of this decade,”
“This step marks a profound reallocation of capital. By managing this faster transformation while safeguarding our profitability targets, we will ensure the enduring success of Mercedes-Benz. Thanks to our highly qualified and motivated workforce, I am convinced that we will be successful in this exciting new era.”
The fascinating thing about this announcement is this line: “Mercedes-Benz will be ready to go all electric at the end of the decade, where market conditions allow.” Not quite the strong and solid commitment, and we think a nice “out” if the market doesn’t grow as fast as as the industry currently expects.
That helps when commitments come back to bite – kinda like Ford’s bold plan to sell an autonomous car by 2021 – what ever happened to that? Spoiler, didn’t happen.
In the EV race, Tesla’s dominance reigns supreme in public perception, vehicle sales and charging infrastructure. On that final point Mercedes plans to have more than 530,000 AC and DC charging points worldwide on its network.
The three architectures Mercedes will have in 2025 will cover Medium to Large passenger cars, a second covering their performance vehicles, and the final being aimed at the light commercial vehicles.
It’s a huge deal, we’re well on our way. All eyes on the motoring industry, who need to pull this off without changing the financial model for the broader sales base.
“Our main duty in this transformation is to convince customers to make the switch with compelling products. For Mercedes-Benz, the trailblazing EQS flagship is only the beginning of this new era,” Källenius said.