The owner of Mercedes-Benz has reportedly said it would soon launch a brand solely focused to its upcoming fully electrical vehicles.

Daimler committed to boost its investment efforts into green technologies to properly compete with its main German rivals in the electrified segment, but also to try to curb Tesla’s momentum. According to people familiar with the company’s plans into this direction, Handelsblatt reports Daimler plans to launch its own brand exclusively dedicated to electric models. Insiders revealed that a decision over the right introduction time of the new marque is to be taken on July 20, adding that it is likely to be presented to the automotive world during the Paris auto show in September. Furthermore, they said Mercedes would also bring to Paris an electric model based on the current GLC set to go on sale next year.

Earlier this month, Daimler announced its intention to put around 8 billion dollars in R&D by 2018, with the final goal of electrifying its entire lineup in the near future, targeting to annually sell around 100,000 EVs by 2020. Part of the green push, Mercedes also announced in June the GLC F-Cell prototype with a plug-in hydrogen powertrain, able to offer energy for around 30 miles (48.2 kilometers) through a lithium-ion battery pack, with a total range of about 310 miles (500 km) thanks to its hydrogen tanks.

Via Handelsblatt


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