Daimler AG, the parent of the Mercedes-Benz and Smart brands, plans to accelerate its battery-electric vehicle program and now plans to have at least 10 BEVs on the market by 2022, about three years ahead of its earlier target.
The move was announced by Daimler CEO Dieter Zetsche during the automaker’s annual meeting in Berlin on Wednesday, and will require an investment currently estimated at around $11 billion. The decision to speed up the program comes as Daimler’s Mercedes brand struggles to meet strict new European CO2 emissions targets.
“We attach high priority to responsible mobility across the entire value chain,” said Daimler board member and research chief Ola Kallenius. “We are continuing to systematically promote the issue of sustainability through targeted investments in environmental projects in the development and production of our vehicles.”