While Tesla may be a current leader in the electric car market, the company has some upcoming competition. Mercedes-Benz is planning to be all-electric by the end of the decade.
Luxury and sustainability
According to Daimler, the manufacturer behind the Mercedes-Benz, all vehicles launched from 2025 onward will be electric-only. The plan relies on a total investment of more than €40 billion ($47 billion USD), a significant increase in research and development speed, and the addition of eight new battery plants.
"We really want to go for it ... and be dominantly, if not all electric, by the end of the decade," Chief Executive Ola Källenius told Reuters.
In another environmentally conscious decision, all passenger car and battery assembly sites run by Mercedes-Benz AG will switch to carbon-neutral production by 2022.
Mercedez-Benz and Tesla aren't the only manufacturers heading in this direction. Jaguar plans to be EV-only starting in 2025, while Volvo and Cadillac have committed to going all-electric by 2030. General Motors isn't far behind and plans to be fully electric by 2035.
These decisions come not long after Canada and Norway announce they'll soon ban internal combustion engines (ICE). They join Britain, which plans to ban ICE vehicles by 2030, along with other countries that are phasing out ICE vehicles.
As of 2020, nearly 1.8 million EVs were registered in the U.S. – that's more than triple the amount in 2016. And the U.S. only accounts for about 17% of the world's total EVs. It's clear that EVs are the way to go for those who have sustainability, and the climate crisis in mind – car manufacturers must adapt to stay relevant.