Robert Besser
21 Mar 2023, 15:14 GMT+10
FRANKFURT, Germany: The German Automobilwoche magazine has reported that as part of its efforts to switch to selling electric vehicles (EV), Mercedes plans to invest billions of dollars to modernize its plants in China, Germany and Hungary over the coming years.
Depending on market conditions, it will be ready to only sell electric autos by the end of the this decade, where market conditions allow, Mercedes said.
"We are investing a three-digit million amount per plant for the run up," the company's production manager, Joerg Burzer, said, noting that these investments will be at the plants in Beijing, Rastatt in Germany and Kecskemet in Hungary, as quoted by the Associated Press.
He added that beginning in 2024, the company's Rastatt plant will produce the first model of the compact vehicle platform MMA, and the number of models produced will be cut to four from seven.
The German automaker will also modernize the painting systems at its Sindelfingen, Bremen and Rastatt plants in Germany, by making a low single-digit billion dollar investment.
The modernization aims to cut energy and water consumption, as well as the reliance of the painting system on gas, as opposed to carbon-free energy, the Automobilwoche report.
To benefit from US government subsidies under last year's Inflation Reduction Act, Mercedes could also expand its US plant in Tuscaloosa, the report added.
Mercedes is prepared to deal with further changes in the regulatory environment, Burzer noted, stating, "The framework conditions worldwide change again and again, we may have to react to that."
Get a daily dose of Sports Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Sports Sun.
More InformationLOUISVILLE, Kentucky: Two horses that succumbed to their injuries at Churchill Downs have become the 11th and 12th fatalities over ...
LAS VEGAS, Nevada: A bill was introduced in the Nevada Legislature to provide the Oakland Athletics up to $380 million ...
Mike Trout and Shohei Ohtani flashed their power on Wednesday in the sort of one-upmanship that is always welcome for ...
Two teams that have struggled offensively could be heating up at the right time when the defending American League Central ...
The Boston Red Sox like what they've been getting from Chris Sale lately. The left-hander now gets an opportunity to ...
Two years ago, the Arizona Diamondbacks endured one of the worst seasons in franchise history, finishing with 110 losses. The ...
After a nine-month hiatus, Brandt Snedeker has his sights set on returning to the PGA Tour at this week's Memorial ...
The Denver Broncos signed well-traveled Elliott Fry on Wednesday after releasing fellow kicker Brandon McManus last week. Terms were not ...
The agent for Aaron Rodgers requested that the Green Bay Packers either fire their general manager or trade the quarterback ...
The Denver Broncos are signing well-traveled Elliott Fry after releasing fellow kicker Brandon McManus last week, NFL Network and 9News ...
New York Jets coach Robert Saleh on Wednesday provided promising updates on the health of star quarterback Aaron Rodgers and ...
New England Patriots head coach Bill Belichick on Wednesday took responsibility for the team being stripped of two organized team ...