Daimler Board Endorses $68 Billion Spending Plan for Mercedes
- Automaker’s investment to cover period between 2022 to 2026
- Spending covers some previously announced outlays on EV range
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Daimler AG’s board has backed investments totaling 60 billion euros ($68 billion) for Mercedes-Benz luxury cars and vans from next year to 2026 as the automaker strives for leadership in electric cars and software.
The company didn’t give a breakdown of its spending, noting some of the funds would go toward automated driving and digitization projects, it said Thursday. The plan includes some of the 40 billion euros already committed to electrify the Mercedes product range during this decade, part of a pledge to go electric-only where possible.