Mercedes-Benz had already committed to launch 10 new electric vehicle models within the next decade, but now it’s looking to launch them by 2022, which is at least three years earlier than it had previously discussed. Mercedes sees the shift to electric as a more urgent one than it anticipated, and wants to lead, rather than follow as the industry makes this shift.
Bloomberg reports that Daimler-owned Mercedes-Benz will put over $10 billion into its effort to bring the new vehicles to market, and that the transition will require “fundamental” changes at the automaker according to Daimler Chairman Manfred Bischoff, who discussed the revised timeline at a company shareholder meeting in Berlin on Wednesday.
Emissions pressures are one cause, as Daimler has been affected by the fallout for diesel among automakers after the Volkswagen scandal. The electrification efforts also help with long-term goals, including fielding reliable autonomous vehicles and fleets. Daimler’s multiple mobility service initiatives include car2go, Moovel and Mytaxi, the models of all of which would benefit from improvements in EV range and affordability.