Mercedes-Benz is planning to roll out 50 electrified models by 2022 according to Daimler AG CEO Dieter Zetsche. In addition to Mercedes’ plans, Daimler has confirmed it will convert its Smart city car brand to be fully-electric. The plans were announced Monday at the company’s Investor Day.
Today’s plans build upon plans previously announced in March, which called for the Mercedes-Benz brand to offer 10 fully-electric vehicles by 2022. The company has since expanded upon that to include dozens of hybrid variants, bringing the total to 50 electrified models by 2022 according to Reuters.
The news comes the same week Mercedes will be revealing its Concept EQ A, which is a preview of one of the company’s upcoming fully-electric models.
Dr. Z also announced a new strategic plan for Daimler AG, called Fit For Leadership 4.0. The new plan is calling for about 4 billion euros ($4.8 billion) in cost savings. Cost savings will be imperative for all automakers to increase the thin margins currently found on most electrified vehicles versus their traditional combustion engine counterparts.