September 11, 2017 / 8:23 AM / in 3 months

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.

A Mercedes-Benz sign is seen reflected on a building in Warsaw, Poland July 6, 2017. REUTERS/Laszlo Balogh

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 ($4.8 billion), Daimler said.

(This version of the 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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