The luxury automobile company plans to make only EVs on all its new platforms from 2025.
Daimler, the parent company of Mercedes-Benz will invest 40 billion euros by 2030 to compete in the all-electric car market. The company will build eight battery plants to increase the production of electric vehicles (EV).
Daimler also announced that the company will be renamed to Mercedes-Benz by spinning off its truck manufacturing division later this year.
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