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Mercedes-Benz pushing to go all-electric by 2030
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Daimler AG's luxury car brand Mercedes-Benz says it is stepping up its transition to electric cars, doubling the planned share of sales by 2025 and sketching out a market scenario in which new car sales would "in essence" be fully electric by the end of the decade.
The shift to electric vehicles "is picking up speed – especially in the luxury segment, where Mercedes-Benz belongs," said Ola Källenius, CEO of Daimler AG and Mercedes-Benz AG. "The tipping point is getting closer and we will be ready as markets switch to electric-only by the end of this decade."
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The company plans to invest $47 billion in battery-driven vehicles between 2022 and 2080. It says it also intends to work with partners on setting up eight factories producing battery cells – the individual components that are assembled into larger battery packs in different vehicles.