Mercedes-Benz Plans to Go All-Electric By 2022

Financial Crisis Hits Europe Car Sales

The urban dweller that needs to get around but doesn't want the hassle of car ownership and the hard-core enthusiast with a huge pile of cash that's looking to go fast and turn heads while still being on the bleeding edge of automotive technology.

A number of other brokerages have also commented on DAI. Berenberg Bank set a €54.00 ($64.29) price target on shares of Daimler AG and gave the company a "sell" rating in a research report on Thursday, August 31st. Independent Research GmbH set a €67.00 ($79.76) price target on shares of Daimler AG and gave the company a neutral rating in a research note on Wednesday, July 26th. Finally, Nord/LB set a €66.00 ($78.57) price target on shares of Daimler AG and gave the company a neutral rating in a research note on Friday, July 14th.

"We are planning to move our Smart brand entirely to electric drive in Europe and North America by the end of the decade", he says. The stock currently has a consensus rating of "Hold" and an average target price of €72.50 ($86.31). The firm has a market cap of €69.46 billion and a P/E ratio of 7.024. Daimler AG has a 1-year low of €59.01 and a 1-year high of €73.20.

Following China's announcement of phasing out fossil fuel vehicles, Mercedes-Benz is following suit by announcing that they are electrifying their entire lineup by 2022.

Speaking at the company's investor day in Sindelfingen, Germany, Daimler said it will offer at least 50 hybrid and fully electric car variants of Mercedes passenger vehicles. It operates through Mercedes-Benz Cars, Daimler Trucks, Mercedes-Benz Vans, Daimler Buses, and Daimler Financial Services segments.

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