Mercedes-Benz to build wind farm

Surging electricity prices have led the German automaker to draw up plans for its own power generation.

BY MARKETWIRE, TRANSLATED BY CHRISTOFFER ØSTERGAARD

Mercedes-Benz aims to build an onshore wind farm, which will cover 15% of the company’s electricity needs in Germany. This will help soften the impact from the rising energy costs, the automaker writes in a press release.

The plan is to install a double-digit number of wind turbines with an output of more than 100MW at the test track in Papenburg in northern Germany by the mid-2020s.

The company’s target is for 70% of energy consumption in production to be covered by renewables by 2030.

Mercedes-Benz’ recent share price development shows a tumble of 3.9% Monday to EUR 54.96.

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