OYA Magazine

Outstanding Young Achiever's Magazine

Mercedes Invests $1 Billion in Electric Cars

– Up to 25 percent of cars may soon be fully electric, says Mercedes-Benz USA CEO after automaker invests $1 billion in electric vehicle production.

Mercedes-Benz USA CEO Jason Hoff said.

“I think consumers are still going to have a choice between traditional gas engines and electric vehicles,” the CEO said. “Our goal of our operations and our strategy is to stay flexible for either one, and that’s what we’re doing with our new investment.”

“Today, we go to a gas station and we fill up our car in a couple of minutes. And right now when you go to charge your vehicle, you know, you’re looking at 20 to 30 minutes, at least, to get some kind of charge on the vehicle,” Hoff said. “So that’s where some of the big trade-offs are that we’re still working on and, really, the whole automotive industry is working on.”

Source: CNBC



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