Car makers investing heavily in EVs despite still relatively low demand

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Car makers investing heavily in EVs despite still relatively low demand
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Biggest marques continue to pour billions into development

Daimler AG showed a new Mercedes-Benz SUV called the EQC Edition 1886 that will go on sale next year"and then we have a whole lot of other electrics coming over the next couple of years", said Dietmar Exler, who heads Mercedes-Benz USA.

He noted the economic advantages of EVs are slight at current petrol prices. He suggested an I-PACE owner would on average save about R7,000 a year by using electricity rather than using fuel, but they will also save on maintenance costs. As part of VW's $25bn"dieselgate" settlement, the German automaker agreed to add at least three additional electric vehicles, including an SUV, in California by 2020.

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