Mercedes mother Daimler lights 70 billion electric driving

Daimler gives extra impetus to the development of new technology, digitisation and electrification. The Mercedes mother will invest โ‚ฌ70 billion in research and development and in the adaptation of its factories in the next five years.

The Supervisory Board, for which Daimler Shell top man Ben van Beurden proposed this week, has given its consent for this investment. Daimler promises to cut costs sharply at the same time. The cost level should be 20% lower by 2025 than in 2019

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Daimler did not report exactly how Daimler distributes the โ‚ฌ70 billion. At least a part goes to Daimler Trucks to speed up the plans for low-emission transport. However, the main part goes to the passenger car division.

Employment

In addition, Daimler has set up a โ‚ฌ1 billion transformation fund together with the works council. This is mainly used to maintain employment during the transformation process.

Daimler is not the only German car manufacturer to significantly increase investment in digitisation and electric driving. On Thursday, Audi announced that it will invest โ‚ฌ17 billion in electric driving until 2025, almost half of Audis total investment.

Volkswagen is sticking the crown. In mid-November, it increased its budget for digitisation and the development of electric cars from โ‚ฌ60 billion to โ‚ฌ73 billion until 2025.