Daimler announces $85,000 billion investment to accelerate the electrification of its vehicles.

Daimler, the parent company of Mercedes-Benz, has announced a new investment plan for electric vehicles from 2021 to 2025 with a major investment.

Daimler announced a new investment plan worth 70,000 billion euros ($85,000 billion) for the next few years, specifically from 2021 to 2025, in which most of the investment will be used "to accelerate the transformation towards electrification and digitization”.

During this period, Daimler will spend "more than 70,000 billion euros on research and development, as well as real estate, plants and equipment." However, Daimler is not the only company making this investment, as Daimler, which also recently approved its budget, has specified that they will spend 12.000 billion euros to bring 30 electric vehicles to market, including 20 all-electric vehicles.

However, Daimler said that most of the money will go to the electrification plans of . In addition, they said investments will be made to further electrify Daimler's truck division. The company had already made some progress with electric trucks, such as the eCascadia, a class 8 electric truck, and the eActros, a short-range electric city truck. More recently, it also introduced the eActros LongHaul electric truck.

“With the Supervisory Board's confidence in our strategic direction, we will be able to invest more than €70.000 billion over the next five years. We want to move faster, in particular with electrification and digitization. In addition, we have agreed with the Company Committee on a transformation fund. With this agreement, we are fulfilling our shared responsibility to actively shape the transformation of our company. Improving our profitability and targeted investment in Daimler's future go hand in hand.” shared Ola Källenius, director of Daimler.

Mercedes-Benz has been slower than some of its peers in bringing fully electric vehicles to market. It also disappointed when it delayed the launch of the EQC electric SUV in North America. But the German automaker is looking to redeem itself with the upcoming launch of EQS and EQA, two new electric vehicles coming to market over the next year, as well as recently announcing the EQE and EQS SUV.

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