Mercedes-Benz, Invests $600 Million Dollar For EV

Mercedes-Benz announced a new $589 million USD investment into its Hambach plant in France in order to produce a new ‘compact electric car’ at the factory.

The plant currently manufactures smart cars for Daimler, which are going all-electric, but the new investment is for a new Mercedes-Benz compact EV.

The automaker has one of the most aggressive electrification plans amongst established automakers. They plan for Mercedes-Benz and smart cars to offer electric versions of all car models by 2022.

Mercedes-Benz’s broader EV effort will start next year with the first vehicles, the all-electric ‘EQC’ SUV, under their new all-electric ‘EQ’ sub-brand.

The company has been referring to it as the “compact EQ”, which could mean that it will serve as the basis of the production car that will be manufactured at the Hambach plant.

Mercedes-Benz says that the preparations for the new model in Hambach will start shortly. The investment will be spent “for the construction of new facilities and also flow in the product itself: With state-of-the-art technology a new body shop and surface treatment will be built. The plant will also expand the assembly facilities and reshape the site’s infrastructure.”

They didn’t say when it will enter production or the annual production capacity of the new car, but Mercedes-Benz aims to bring several EVs to market by 2022.