- General
- March 3, 2019
- 6 minutes read
German Carmakers To Put In €60 Billion In Electrification And Automation
Mercedes-Benz G-Class image : Mercedes-Benz Ahead of the Geneva motor show, the head of the German Association of the Automotive Industry…
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| Mercedes-Benz G-Class
image : Mercedes-Benz
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Ahead of the Geneva motor show, the head of the German Association of the Automotive Industry (or VDA), Bernhard Mattes has said that carmakers in the country will invest close to 60 billion euros over the next three years on development of electric vehicles and self-driving technology. “We will invest over 40 billion euros in electric mobility during the next three years, and another 18 billion euros will be invested in digitization and connected and automated driving,” Mattes said in a statement on Saturday.
He also said the range of electric vehicle models from German automakers would boost to around 100 in that period. “The ramp-up of electric mobility is coming in Europe,” Mattes said. “Without it, the EU’s CO2 targets cannot be achieved by 2030,” Mattes said, calling for what he termed appropriate regulatory conditions across Europe.
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| The BMW 7 Series
image : BMW
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Just recently, Germany’s finance minister announced that the country is lengthening tax incentives for electric company cars, in a bid to encourage adoption of EVs in the country. German automakers like Audi, BMW, Mercedes-Benz and Volkswagen have worked on electrification and automated driving tech for vehicles in recent times. In December, Audi announced it’s investing €14 billion into such initiatives.
Likewise, Volkswagen has been reported to be considering a partnership and investment into Ford’s self-driving unit. Mercedes-Benz parent Daimler has also made many moves in this area, they include ; co-leading a $155 million round for electric bus manufacturer Proterra, partnering with Bosch to test self-driving cars in San José, and a recent $1.1 billion joint venture with fellow German automaker BMW.
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