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Mercedes-Benz to invest €60B to be Electric Only
The Supervisory Board agreed to an investment plan for the years 2022 to 2026 of more than €60 billion. Mercedes-Benz claims it will reduce capex, research and development expenses for the electrification of the product portfolio and digitalization processes, including steps towards automated driving, albeit at an admittedly high level. Needed to do this is an increase net revenues per vehicle. In addition, a gradual shift toward a direct sales model, which includes control over pricing, is being sought. Rising revenue from digital services will further support results. Continue reading →