Daimler Announces $11 Billion Investment For Electric Vehicles

11 months ago by Eric Loveday 18

Mercedes-Benz Generation EQ

Mercedes-Benz Generation EQ

Daimler’s research and development boss, Thomas Weber, has announced that the automotive group will invest up to $11 billion into electric vehicles.

Quoting Weber:

“By 2025 we want to develop 10 electric cars based on the same architecture.”

“For this push we want to invest up to 10 billion euros.”

Mercedes-Benz Generation EQ

Mercedes-Benz Generation EQ

Under that investment are at least six pure electric vehicles, including three all-new Smart EVs.

The big news here is that these three preiovusly undisclosed Smart electric cars will boast range of up to 700 km (NEDC) thanks to significnatly improved battery technology. While there’s no firm timline for the release of these 3 Smarts, the 700 km range figure would seem to suggest that these vehicles are 10 years (or more) away, due to battery technology advancements moving at a relatively slow pace and the fact that the new Fortwo ED and ForFour ED have just been released.

Honestly, we’re not sure where the 700 km figure came from, as it seems way too high for a Smart city car, but that’s the claim put forth by Weber.

Back to reality…

The bulk of Daimler’s investment will initially be directed towards the upcoming Mercedes-Benz Generation EQ, a long-range (310 miles) electric crossover slated for production in 2019.

Source: Reuters

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18 responses to "Daimler Announces $11 Billion Investment For Electric Vehicles"

  1. wavelet says:

    700km sounds odd indeed… The vast majority of ICE cars don’t have that range, certainly not in Europe. Maybe he meant 170km?

    That would be (in real, not NEDC, terms) a semi-reasonable range for a city car right now. Still however low for 2015.

    1. Another Euro point of view says:

      “700 km, the vast majority of ICE cars don’t have that range, certainly not in Europe”

      ?!?…In Europe a large chunk (40% ?) of cars on the road still are diesel. About none of them will have a range of less than 700 km. A cheap Renault Clio diesel has a 50l tank with an average consumption of 5 to 6l/100km. So about 900 km range. Same for a VW Golf diesel. A larger car like a VW Passat (diesel) will have a range of approx. 1000 km (up to 1200 km on highway)

      1. Another Euro point of view says:

        …and by the way, for those 40%, many would refuel only about twice a month. As a result many small fuel stations just disappeared in last 20 years. In between Brussels (“so called capital of Europe” and where I live there is a 160km stretch of highway with only 1 single fuel station in the middle.

      2. Electro Van says:

        My thoughts exactly. I have never driven a car with less then 700km range.

        But what we need is an electric van.
        Our company drives tens of thousand of km every week.

        The company would save a LOT of money with an electric van that can drive about 700km, and be able to charge while the driver is eating.
        I find it strange that the manufacturers of electric cars have not made a van and a minibus with a Tesla + range.
        These cars drive way longer then a regular passenger car. In some cases 10 times the distance.
        The cars we drive last 3-5 years (350-700 000km, depending on the brand and manual/automatic gear) before it’s not economical to run. We then sell the cars to a Polish company that do a full change of worn parts, and change the engine from a crashed car. And resells the cars again. They are known to do a relly good job.
        If an electric car could handle the range, and still have a low cost (low maintenance cost and “fuel” cost)it would be a good deal for all companies.
        I’m talking vans like Mercedes Sprinter, Fiat Ducato, Renault Trafic (without the crap gearbox/engine combo). Nissan eNV200 is just to small, with a range that is useless to us.

        1. Terawatt says:

          It is definitely coming. And it probably could have made sense quote early on. But the much bigger initial price differential to fossil, due to the big battery pack, has been a blocker. Now batteries cost a third of five years ago, and they are still getting cheaper. So vans and even trucks are definitely coming. Buses have already begun taking off, so there’s huge delivery delays.

          1. David Lane says:

            Check out Zenith electric vans! http://www.zenith-motors.com/

    2. unlucky says:

      Remember, on the European (NEDC) cycle a Bolt EV is a 500km car. You’re talking about a car which has 28% more range than a Bolt EV. So a 305 mile range car on US measures.

      If you are looking to match range expectations for customers used to ICE cars, 700km on the NEDC or 305 miles EPA is a reasonable figure.

      1. unlucky says:

        Oops, did my math wrong. You’re talking about 40% more range than a Bolt EV.

        So a 333 EPA mile range car.

        This is still a reasonable figure if you want to make a car people consider comparable to ICE car range.

        1. Another Euro point of view says:

          Yes but the thing is that nobody pays attention what to the NEDC range anymore as it is an absurdly optimistic figure. When I talk of a EUR 15K Renault Clio (diesel) having a 900km range. This is a real life figure. NEDC range of that car is 1250km. This is the figure you need to compare to the 500km of NEDC range of the Bolt, not the 700km. Its seems no one uses NEDC range anymore, I would be inclined to believe that when mercedes refers to 700 km they refer to real range for their future top of the range most expensive EV’s.

        2. Terawatt says:

          Ampera-e still does not have an official NEDC range. It’s only known to be more than 500 km. My guess now as before is it’ll get 550 km.

  2. ffbj says:

    Yeah, I would say that baby is ready to be changed.

  3. Another Euro point of view says:

    “Honestly, we’re not sure where the 700 km figure came from”.

    We don’t really know what the 98% think. We are here the 2% so who really care what we think ? As I wrote above, in Europe 40% people own a diesel. As a result they visit fuel stations about only twice a month. Those same people forgot what it means to have to stop to refuel on a journey. So maybe Mercedes thinks that to appeal to those people they will need to have at least one of their EV’s to have a range at least approaching the range of a EUR 15K Renault Clio (900 km). Also we need to remember it is a German car maker. What would be the range of a 200 miles EV at 100mph average speed ? That is why people buy Mercedes/BMW/Audi in Germany for.

  4. Bill Howland says:

    Well better late than never.

    I used to always smile when those 20 mile range cars would be released by a Premium Vehicle maker such as Daimler.

    The soon Name-Brand companies start making huge investments in decently sized battery powered cars, the sooner low-battery prices due to economies of scale will acrue to the rest of us.

    I disagree with the majority of the Hydrogen-Fuel-Cell buffs on this forum, seeing it as mainly a distraction. The progress of ‘Hydrogen Infrastructure’ has been much, much slower over the past decade than it should have been if the new technology was ever to be economically viable.

    Battery technology seems to have improved, with less loss, longer life, and greater value, at a far faster rate than Hydrogen Technologies.

    1. Jim Whitehead says:

      You are correct, Hydrogen EVs are still mostly hot air. Insideevs reported 3 years ago, that Musk said that hydrogen cars have so many extra steps that kill efficiency and extra cost, they are “mind boggling stupid” compared to current batteries. See: http://insideevs.com/tesla-ceo-elon-musk-hydrogen-fuel-cell-vehicles-are-mind-boggingly-stupid/

  5. wholRotAtioN says:

    So, I’m thinking of starting a company up in Fort St John, Canada. They have the big Damn being built, a big push for being All Electric Environmental friendly.
    BushPilot Electric Sport Aircraft
    Small 3 seater, newest tech, rolls royce care. Water/land feuless, for the enviroment & technology. Reduction in air/wind/sound polution 100%

    Get it designed and built in 2017, world wide mass production by 2018. So, if you want to fork me over a Billion Dollars or so, i ll get started on it.

    1. Terawatt says:

      Sounds like a plan. But it’s 2016. Use kickstarter like everyone else.

  6. JyKiaNiro says:

    We all know why these automakers are announcing investment in EVs. One word, China.

    China will require automakers to produce 8% of its fleet to NEV by 2018. By 2020, 12% of the fleet must be NEV.

    Who was Daimlerś biggest customer? China.

    1. Benz says:

      What is NEV?