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Mercedes-Benz Aims to Double EV Sales by 2025

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July 23, 2021—Mercedes-Benz says it's doubling its share of planned EV sales by 2025 and is sketching out a plan to become "in essence" fully electric by 2030.

The company plans to invest $47 billion in battery electric vehicles in the coming years and has plans to set up eight battery factories, according to a report from the Associated Press.

The shift to electric vehicles “is picking up speed - especially in the luxury segment, where Mercedes-Benz belongs,” said Ola Kallenius, CEO of Daimler AG and also head of the Mercedes-Benz division. ”The tipping point is getting closer and we will be ready as markets switch to electric-only by the end of this decade.”

Mercedes-Benz sold 39,000 BEVs and 121,500 plug-in hybrids in the first six months of the year, accounting for 10.3 percent of the company's total sales. 

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