Automaker behind internal combustion engine start says buyers will switch to luxury EVs, good for business
Mercedes-Benz, the German automaker known for pioneering the internal combustion engine, says electric vehicles will be the dominant car on the road, particularly luxury EVs. The automaker’s CEO says he sees the switch to luxury EVs happening step-by-step within this decade.
It was New Year’s Eve, 1879, when the first stationary gasoline engine ran for the first time, according to Mercedes-Benz. The one-cylinder, two-stroke engine was developed by Carl Benz, a German engineer.
Seven years later, on January 29, 1886, Carl Benz applied for a patent for his “vehicle with gas-engine drive” (model no.1) that helped spark the auto industry.
Fast forward over 100 years, and the auto industry is undergoing one of the most significant transitions since the creation of mass-produced gas-powered vehicles.
The switch from internal combustion engines to EVs is happening quicker than most expected. As technology advances, allowing superior range, more power, and new features, consumers are converting faster than ever.
Electric vehicle sales in the US hit another record in the first half of 2022, jumping to 196,788 to claim 5.6% of the overall market. Most automakers released their September sales this week, and although EV sales continue climbing, sales of gas-powered vehicles are declining. For example, Ford reported September 2022 sales showing a nearly 9% decline in total vehicle sales from 2021. Toyota, GM, Stellantis, Honda, Nissan, and more are seeing similar figures.
Tesla, which only makes electric vehicles, delivered a record 343,000 EVs in Q3, representing 43% growth from Q3 2021.
Mercedes Benz sees this trend expanding as consumers will increasingly switch to EVs over internal combustion engines, especially luxury buyers.
The switch to EVs from internal combustion engines is happening
In an interview with CNBC’s Jim Cramer, Mercedes-Benz CEO Ola Kallenius said, “Step-by-step, we see the market turning” from internal combustion engines to EVs.
Mercedes-Benz plans to become an all-electric brand within this decade, launching an EV alternative for every model they offer by 2025. Furthermore, all new vehicle architectures will be built for electric-only models from 2025 on.
Kallenius continues to say the switch may happen quicker than most expect with luxury EVs, stating:
I really believe that in this decade, we will flip from being based upon high tech internal combustion engines to going dominant electric, if not all electric, in the luxury segment.
Mercedes plans to achieve carbon neutrality by 2039, working to reduce CO2 across its supply chain through mineral recycling initiatives and sourcing components from IRMA-certified mines. The automaker admits climate change is an issue that needs to be addressed.
We’ve all realized that climate change is real, the CO2 problem needs to be solved. And where does that problem end? It ends on the desks of our engineers.
As the switch to EVs accelerates, Mercedes-Benz believes it’s better for the planet and can also boost business.
We do it because we think it’s right. But we also do it because we think it’s going to be the better business. I don’t think there’s any question for a modern company, a forward-thinking modern company, that we need to decarbonize.
The German luxury automaker’s chief concluded, hinting as EVs advance, buyers will prefer them, claiming:
As long as you give the customer a superior product to what they had before, they’re open minded for a switch. The experience for the customer in terms of the torque, the performance, everything is fantastic.
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Environment
Baidu- and Geely-backed JiYue brand unveils ROBO X EV that goes 0-100 km/h in under 1.9 sec
JiYue, a Chinese EV brand focused on delivering all-electric “robocars” to the masses, has unveiled its latest model, and it’s quite a deviation from its previous EVs—but in the best way. Earlier today, JiYue launched the ROBO X supercar, designed for high-speed racing. By high speed, we mean 0-100 km/h acceleration in under 1.9 seconds. My mouth is watering.
JiYue has only existed since 2021, when parent tech company Baidu announced it was expanding from software development into physical EV production, joining forces with multinational automotive manufacturer Geely.
The new “robotic EV” marque initially launched as JIDU with $300 million in startup capital before garnering an additional $400 million in Series A funding, led by Baidu, in January 2022.
In August 2023, Geely took on a larger role in JIDU alongside a greater financial stake as the brand reimagined itself as JiYue, inheriting the JIDU logo and its flagship model, the 01 ROBOCAR.
In December 2023, Baidu and Geely unveiled a second model called the JiYue 07. It was born from JIDU’s ROBO-02 concept, which debuted in 2023 and was designed to compete against the Tesla Model 3 in China.
The 07 finally launched in China earlier this year with 545 miles of range. With an all-electric SUV and sedan on the market, JiYue has unveiled an exciting new entry in the form of a performance supercar called the ROBO X. Check it out:
JiYue’s new ROBO X EV is available for pre-order now
JiYue showcased its new ROBO X hypercar in front of the crowd at the 2024 Guangzhou Auto Show earlier today. Similar to previous models but with a unique spin, JiYue described the ROBO X as an AI smart-driving supercar that, for the first time, blends artificial intelligence and autonomous driving into a high-performance, race-ready EV.
When we say “high performance,” we mean a quad motor liquid-cooled drive system that can propel the ROBO X from 0 to 100 km/h (0 to 62 mph) in under 1.9 seconds. JiYue called the new ROBO X a “performance beast” with “the perfect balance of excellent aerodynamic performance and high downforce.” JiYue CEO Joe Xia was even bolder in his statements about the ROBO X:
For the next 20 years, the design of supercars will bear the shadow of Robo X. This is the best design in the history of Chinese automobiles today, and it is a landmark presence.
Fighter-style airflow ducts bolster the EV’s aerodynamics, efficiency, and overall posture. Per JiYue, the two-seater ROBO X is expected to deliver a maximum range of over 650 km (404 miles).
The new supercar features falcon-wing doors, a carbon fiber integrated frame, and a professional racing HALO safety system offering 360° of support. The interior features an AI smart cockpit with SIMO real-time feedback to give drivers an immersive racing experience.
Furthermore, JiYue said the vehicle will utilize parent company Baidu’s Apollo self-driving technology, which could make it the first electric supercar to apply pure-vision ADAS technology that enables track-level autonomous driving.
Following today’s unveiling of the ROBO X, JiYue has officially opened up pre-orders in China for RMB 49,999 ($6,915). That said, reservation holders will need to be patient as JiYue shared that it doesn’t expect to begin mass production of the ROBO X until 2027.
What do you think? Will people be talking about the ROBO X for the next 20 years?
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This week on Electrek’s Wheel-E podcast, we discuss the most popular news stories from the world of electric bikes and other nontraditional electric vehicles. This time, that includes the launch of the Lectric XPedition 2.0, Yamaha e-bikes pulling out of North America, LiveWire unveils an electric scooter concept, PNY readying its cargo e-scooters for pilot testing, Royal Enfield’s first electric motorcycle, and more.
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Crude oil futures were on pace Friday for loss for the week, as a supply gut and a strong dollar depresses the market.
U.S. crude oil is down more than 2% this week, while Brent has shed nearly 2%.
Here are Friday’s energy prices:
- West Texas Intermediate December contract: $68.56 per barrel, down 14 cents, or 0.2%. Year to date, U.S. crude oil has shed about 4%.
- Brent January contract: $72.36 per barrel, down 20 cents, or 0.28%. Year to date, the global benchmark has lost nearly 6%.
- RBOB Gasoline December contract: $1.99 per gallon, up 0.46%. Year to date, gasoline has fallen more than 1%.
- Natural Gas December contract: $2.70 per thousand cubic feet, down 2.98%. Year to date, gas has gained more than 4%.
The International Energy Agency has forecast a surplus of more than 1 million barrels per day in 2025 on robust production in the U.S. OPEC revised down its demand forecast for the fourth consecutive month as demand in China remains soft.
A strong dollar also hangs over the market, as the greenback has surged in the wake of President-elect Donald Trump’s election victory.
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