Mercedes is Betting $45 billion It Can Become the King of Luxury EVs

Ola Källenius says Mercedes-Benz will own the future of luxury electric cars; investing $45 billion to shift all of the brand’s powertrains to electric by 2030.

On the one hand, Mercedes has to bet big on EVs. So must every major auto maker as governments around the world — in Europe, the United States, and China — seek to dramatically cut back on the greenhouse gases and other air pollutants that their products have been spewing for more than a century.

On the other hand, as the entire automobile industry undergoes the biggest transformation since its beginnings, Källenius sees a massive opportunity for the Stuttgart, Germany-based company, which sells 2.4 million cars and vans worldwide, to make an aggressive move.

Read the Los Angeles Times article



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