Mercedes invests billions in EVs Mercedes Benz revealed its EV Vision EQXX nearly a year ago. The revelation showed that Mercedes was ready to start its journey from fossil fuel to electrification. The luxury carmaker has announced further plans that involve investing billions of dollars in upgrading its car plants in China, Germany (Rastatt), and Hungary (Kecskemet) to enable its EV switch.
The renovation will start at its German plant later this year, where it plans to make the first model of the compact vehicle platform MMA in 2024. Other plans by Mercedes Benz involve modernizing its painting systems at its plants in Germany and expanding its factory in the United States.