One by one, the world’s auto manufacturers have made bold commitments to electric vehicles, setting targets for turning over their entire fleets and disclosing large capital expenditure plans for the future. Today, it looks like it’s Mercedes’ turn. The luxury auto manufacturer has said this morning it is going to spend more than $47 billion over the next 10 years to “electrify its lineup and defend its position as the world’s best-selling luxury-car maker through a historic industry transformation,” according to Bloomberg. Mercedes says it’ll launch 3 new EV platforms in 2025 and that it is going to build 8 additional battery factories with partners. Chief Executive Officer Ola Kallenius said: “The tipping point is getting closer and we will be ready as markets switch to electric-only by the end of this decade. This step marks a profound reallocation of capital.” Mercedes’s first foray into EVs with the EQS […]