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Daimler To Invest More Than EUR 40 Bln In EVs By 2030 - Quick Facts

German automaker Daimler AG (DDAIF.PK) said Thursday that it will invest more than 40 billion euros between 2022 and 2030 in a full shift to electric Mercedes-Benz vehicles by the end of the decade. All newly launched architectures will be electric-only from 2025 onwards.

"Mercedes-Benz is getting ready to go all electric by the end of the decade, where market conditions allow," Daimler said in a statement.

Mercedes-Benz will launch three electric-only architectures in 2025.

The company plans to set up eight battery production facilities to enable its shift to all electric vehicles. This is in addition to the already planned network of nine plants dedicated to building battery system.

The company plans to use a common battery platform across more than 90 percent of future vehicles.

Mercedes-Benz is currently developing the Vision EQXX, an electric car with a real driving range of more than 1,000 kilometres on a single charge.

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