Mercedes-Benz to offer electric option for every car by 2022

Frankfurt: Daimler`s Chief Executive Dieter Zetsche on Monday said Mercedes-Benz will offer electric versions of all its models by 2022, converting its Smart city car brand to become fully electric.

Speaking at the company`s investor day in Sindelfingen, Germany, Daimler said it will offer at least 50 electrified versions of Mercedes-Benz passenger cars in a hybrid and fully electric car variants.

Because electric cars have a lower margin than electric cars, Daimler has set itself a more ambitious savings target. The company`s Fit for Leadership 4.0 plan targets savings of 4 billion euros ($4.8 billion), Daimler said.