Daimler okays Mercedes' €60 billion investment plan

Thursday, 02. December 2021 18:35

Daimler AG supervisory board approved on Thursday an investment plan aimed at providing Mercedes-Benz with €60 billion over the course of the next four years for electrification and digitization of its vehicle roster, as well as developing an automated driving system.

"Our goal is technology leadership in the automotive luxury segment and premium vans. We remain committed to our ambitious margin targets. Mercedes-Benz has everything that is required for this: a clear strategic course, a highly qualified and motivated team and the strong support of the entire Supervisory Board," the board's Chairman Ola Kaellenius noted.

The investment comes as part of Mercedes' plans to become fully electric before the end of the decade.

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Author:
Baha Breaking the News (BBN) / ND