Mercedes will be ready to go fully electric by 2030

One new model on its way, codenamed Vision EQXX, is targeting a real-world range of 620 miles (1,000km). Mercedes’ Formula 1 powertrain division is helping in development of the EQXX which Mercedes says will premiere in 2022 as one of eight battery-electric vehicles (BEVs) to be offered next year.

By In 2025 Mercedes-Benz will launch three electric-only architectures: one scalable platform for passengers cars, a dedicated high-performance platform for AMGs, and one for vans.

The revelations come as Mercedes becomes the latest car company to spell out exactly how it is handling the transformation from combustion-engined to electric mobility.

Reinventing the world’s oldest car company for an electric future does not come cheap: the €40 billion needed will pay for the new models, new plants including new battery gigafactories, new partnerships around the world, new recharging infrastructure, the retraining of employees and a massive uptick in research and development.

One of the new company acquisitions is with UK electric motor company YASA. Mercedes says the Oxford-based start-up offers unique axial flux motor technology which will be crucial in the development of the next generation of ultra-high performance motors needed to power the coming new wave of electric Mercs.

Mercedes will continue to make combustion-powered vehicles for markets which still want them – not every country is banning the sale of new petrol or diesel cars from 2030. However, it says it will be ready to go “fully electric” by the end of the decade “where market conditions allow”.

Mercedes’ estimate last year that a quarter of all its sales would be hybrid or electric by 2025 has been radically upgraded to 50 per cent ­– illustrating the speed at which the market is now embracing electric cars. As a consequence, it is ramping back by 80 per cent investment into combustion engines and plug-in hybrids.

When a company like Mercedes-Benz commits to such a massive reinvention it is clear critical mass has been reached and there is no turning back to petrol power. Interestingly, Mercedes says that despite the huge investment required, it is sticking to its profit targets – good news if you have shares in Daimler AG – with one strategy to achieve this being more high-margin cars like the most expensive AMGs and Maybachs.

“I am convinced that we will be successful in this exciting new era,” says Ola Källenius, chief executive of Daimler AG and Mercedes-Benz AG. “The EV shift is picking up speed – especially in the luxury segment, where Mercedes-Benz belongs. By managing this faster transformation while safeguarding our profitability targets, we will ensure the enduring success of Mercedes-Benz.”