Mercedes-Benz is investing more than previously planned in combustion engine technology, including €14bon (about R269,747,100,000) this year on its passenger cars, its CEO told the German publication Wirtschaftswoche.
The premium carmaker was investing in factories and in research and development, reworking the drive train of its hybrid cars so that it "lasts well into the next decade", Ola Kaellenius said in comments published on Thursday.
It had also spent "much more" than it usually would on a facelift of the combustion engine version of its flagship S-Class, due to hit the market in mid-2026.
"Our engines will always be at the very highest technological level. Otherwise we would suddenly stall our combustion engine business in 2027/28," he said.
Kaellenius' comments come after the executive told investors in February the company would keep sprucing up combustion engine models amid slower demand for electric cars.
The carmaker had long said it was preparing for 100% of sales to be all-electric by 2030 "where market conditions allowed", but Kaellenius said earlier this year the company expected only 50% of sales to be electrified vehicles, including hybrids, by the end of the decade.
Mercedes-Benz is spending more than previously planned on combustion engines: Wiwo
Image: Lennart Preiss/Getty Images
Mercedes-Benz is investing more than previously planned in combustion engine technology, including €14bon (about R269,747,100,000) this year on its passenger cars, its CEO told the German publication Wirtschaftswoche.
The premium carmaker was investing in factories and in research and development, reworking the drive train of its hybrid cars so that it "lasts well into the next decade", Ola Kaellenius said in comments published on Thursday.
It had also spent "much more" than it usually would on a facelift of the combustion engine version of its flagship S-Class, due to hit the market in mid-2026.
"Our engines will always be at the very highest technological level. Otherwise we would suddenly stall our combustion engine business in 2027/28," he said.
Kaellenius' comments come after the executive told investors in February the company would keep sprucing up combustion engine models amid slower demand for electric cars.
The carmaker had long said it was preparing for 100% of sales to be all-electric by 2030 "where market conditions allowed", but Kaellenius said earlier this year the company expected only 50% of sales to be electrified vehicles, including hybrids, by the end of the decade.
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