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Mercedes-Benz to offer electric option for every car by 2022
September 11, 2017 / 8:36 AM / 9 days ago

Mercedes-Benz to offer electric option for every car by 2022

FILE PHOTO: The Mercedes-Benz logo is seen before the company's annual news conference in Stuttgart, Germany, February 4, 2016. REUTERS/Michaela Rehle/File Photo

FRANKFURT (Reuters) - Daimler’s (DAIGn.DE) Chief Executive Dieter Zetsche on Monday said Mercedes-Benz will offer electric versions of all its models by 2022, converting its Smart city car brand to become fully electric.

Speaking at the company’s investor day in Sindelfingen, Germany, Daimler (DAIGn.DE) said it will offer at least 50 electrified versions of Mercedes-Benz passenger cars in hybrid and fully electric car variants.

Because electric cars have a lower margin than combustion-engine cars, Daimler has set itself a more ambitious savings target. The company’s Fit for Leadership 4.0 plan targets savings of 4 billion euros (3.65 billion pounds), Daimler said.

(This story corrects third paragraph to show electric cars have a lower margin than combustion-engine cars, not electric cars)

Reporting by Edward Taylor; Editing by Maria Sheahan and David Goodman

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