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6/17, 5:08 PM (Source: TeleTrader)
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Daimler-0.90%

75.75
Chart for: DAIMLER AG NA O.N.

Daimler accelerates EV plans ahead of German elections

Daimler AG is making preparations to end the use of gasoline and diesel engines earlier than planned if it becomes necessary, according to a report published by Manager Magazin on Thursday.

The carmaker's Chief Executive Ola Kallenius is seeking to accelerate the electrification of all Mercedes models, the report revealed, adding that the cars planned for release in 2024/2025 will be announced a year earlier as part of the initiative.

Kallenius intends to officially confirm the scenario before summer break, ahead of the federal elections in Germany in which the Greens are seen as one of the favorites to winning the majority. In that case, the country could halt the use of combustion engines by the end of the decade, the report concluded.

Breaking the News / ND