Mercedes-Benz to Invest EUR2 Billion in European Sites to Boost Electric, Luxury Vehicles
29 June 2022 - 10:59PM
Dow Jones News
By Kim Richters
Mercedes-Benz Group AG said Wednesday that it plans to invest
more than 2 billion euros ($2.10 billion) in its European sites as
it doubles down on luxury vehicles and ramps up production of
electric cars in the next years.
The German car maker said management and employee
representatives have agreed on a future production setup in Europe,
which includes making the site in Sindelfingen, Germany the main
plant for producing vehicles for the high-end luxury segment and
making models with the electric platform AMG.EA from 2025.
"This step marks a new phase of introducing next-generation
electric platforms in production, securing future employment at
European locations," the car maker said.
The investment announcement comes after Mercedes-Benz said in
May that it plans to increase the sales share for top-end luxury
vehicles and confirmed plans to sell fully-electric vehicles only
where market conditions allow by 2030.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
June 29, 2022 08:44 ET (12:44 GMT)
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