Daimler plans to invest over €40 billion ($47 billion) between 2022 and 2030 to make Mercedes-Benz an all-electric company by 2030, Kallanish learns from the company on Thursday.

The plan will see the carmaker installing over 200 gigawatt-hours battery cell capacity with partners, through eight gigafactories. Mercedes-Benz already has plans for nine plants to build battery systems. The electrification strategy will now rely on new partnerships for the development and production of battery cells in Europe, while also strengthening its vertical integration business model.

By 2022, Mercedes-Benz should have battery electric vehicles (BEVs) in all its segments, starting then mass production of eight EVs in seven locations on three continents. From 2025 onwards, all newly launched vehicle architecture will be for BEVs. Customers will then be able to choose a BEV alternative for every model the company makes.

Charging infrastructure will receive a boost in investment to meet the target of 30,000 new charging points by 2025 under a partnership with Shell in Europe, China and North America. Mercedes-Benz’s current network stands around 530,000 charging points globally.

Other areas to benefit from the investment include the construction of a new battery recycling factory in Kuppenheim, Germany, in 2023; as well as R&D and the development of next-generation batteries. These will be highly standardised and fit for over 90% of the brand’s cars and vans, Daimler said.

Mercedes-Benz has recently purchased a UK-based electric motor company, YASA, and has partnered with SiloNano to increase energy density of its batteries. The latter will be achieved with the use of a silicon-carbon composite in the anode.

“The EV shift is picking up speed - especially in the luxury segment, where Mercedes-Benz belongs. The tipping point is getting closer and we will be ready as markets switch to electric-only by the end of this decade,” comments Ola Källenius, ceo of Daimler AG and Mercedes-Benz AG. “This step marks a profound reallocation of capital. By managing this faster transformation while safeguarding our profitability targets, we will ensure the enduring success of Mercedes-Benz.”