Mercedes Hastens Shift To Electric Cars As Combustion Era Fades

By Elisabeth Behrmann
Bloomberg

Mercedes-Benz is accelerating its rollout of battery-powered autos in a race to meet tighter emissions rules as European buyers turn away from fuel-efficient diesel cars.

In a $10.8 billion project, the world’s largest luxury-carmaker intends to release 10 new electric vehicles by 2022, three years earlier than a target announced at the Paris auto show in September. The expedited time frame reflects the urgency facing manufacturers as they brace for a shift away from traditional automotive technologies. Combustion engines would continue to be refined for a “transitional period,” Mercedes parent Daimler AG Chairman Manfred Bischoff said Wednesday.

“We want to shape the profound transformation of the automotive industry from the forefront,” Bischoff said at the company’s annual shareholder meeting in Berlin. “Further fundamental changes will be required for Daimler to remain successful,” as the industry adjusts to cars with electric motors and capable of self-driving.The faster pace comes as the industry battles a backlash against diesel cars stemming from Volkswagen AG’s cheating scandal. Daimler has been embroiled with German prosecutors investigating the Stuttgart-based automaker’s employees over diesel-manipulation allegations. The technology is key for meeting increasingly stringent rules for lower carbon-dioxide emissions.

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