Daimler Makes $47 Billion Investment In All-Electric Future

Daimler AG CEO Ola Källenius poses with the company's growing family of electric cars, SUVs, and vans. (Daimler AG)

Daimler is the latest automaker to make a massive push for electric vehicles, confirming that it will shift to selling only EVs at the end of the decade.

The headline numbers are eye-opening, with the company saying it will spend around $47 billion on its EV plans, which include installing over a half-million charging stations under a Mercedes Me Charge plan. Furthermore, future Mercedes EVs could be capable of traveling over 1,000 kilometers (621 miles) on a full charge, which is the range the company is targeting for the Vision EQXX vehicle it is currently developing.

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