By The Financial District
Mercedes To Invest Billions Of Euros To Upgrade EV Plants
Mercedes will invest billions of dollars to modernize its plants in China, Germany and Hungary over the coming years, magazine Automobilwoche reported, as the carmaker prepares to switch to electric vehicles and cut emissions, Riham Alkousaa reported for Reuters.
Photo Insert: Mercedes has said it will be ready to go electric by the end of this decade, where market conditions allow.
The European Union (WU) has set a goal to halve CO2 emissions per passenger car over their life cycle by the end of this decade compared to 2020 and is seeking agreement on a 2035 deadline to end the sale of fossil fuel cars.
Mercedes has said it will be ready to go electric by the end of this decade, where market conditions allow.
"We are investing a three-digit million amount per plant for the run-up," production manager Joerg Burzer was quoted as saying by the magazine, adding that these investments will be at the plants in Beijing, Rastatt in Germany, and Kecskemet in Hungary.
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