Mercedes-Benz Bets Big On Wind Amid European Energy Crisis: Report

Mercedes-Benz Bets Big On Wind Amid European Energy Crisis: Report
  • Mercedes-Benz Group ADR MBGYY is partnering with an energy company to tap wind energy off the Baltic Sea starting in 2027.
  • The move is believed to ease the automobile manufacturer's energy needs amid a crisis in Europe, Bloomberg reported.
  • Also ReadMercedes-Benz Connects Passenger Car Plants To Microsoft Cloud - What's The Benefit? 
  • Last month, Mercedes revealed plans to build a wind farm at its Papenburg test track in northern Germany.
  • "Those two projects alone, in mid to long term, will cover 40% of our electricity needs," the report quoted CEO Ola Kallenius.                   
  • The report also cited an S&P Global Mobility report that warned that European carmakers' output might fall by one million vehicles per quarter starting in late 2022 and continuing into 2023.  
  • A surge in energy costs has weighed on the supply chain, making matters worse for European carmakers already battered by the COVID-19 pandemic.
  • Mercedes has been stockpiling natural gas products to ensure continued production in the wake of Germany's fuel rationing move.
  • "I like to believe that we will get over this energy crisis situation in the next couple or three years," said Kallenius.
  • Also SeeGM Unveils New Business Unit Called 'GM Energy' - Offers Storage & Management Services
  • Price Action: MBGYY shares closed lower by 1.33% at $13.02 on Friday. 
  • Photo Via Company

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