September 11, 2017 / 8:36 AM / 6 months ago

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

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.

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

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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