German carmaker Daimler said on Thursday at an investor day that it would present its updated plans for approaching the electric age.

The company did not comment on the contents in advance.

So far, the Stuttgart-based company has set itself a target that electric and hybrid vehicles should account for half of its passenger car sales by 2030.

In addition, the entire Mercedes new car fleet should be CO2-neutral by 2039 at the latest.

The Group Chief Executive, Ola Kaellenius, recently said repeatedly that he saw possible a faster breakthrough of electromobility than originally envisaged.

He said in that regard, Daimler’s planning bases so far were perhaps too conservative.

Daimler has earned by far most of its money with conventional combustion vehicles that use petrol or diesel.

The number of all-electric cars sold in the first half of the year accounted for just over three percent of all cars delivered, plus a slightly higher proportion of hybrid cars.

However, the industry, partly due to political requirements, expects rapidly growing sales quotas for electric cars in the next few years.

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Competitive pressure was high, and many manufacturers have now announced far-reaching electric targets.

For example, Volkswagen, with its core brand VW Passenger Cars alone, wanted to generate at least 70 percent of its sales in Europe from the sale of purely electric vehicles by 2030.

The VW Group wanted to convert half of its entire model range to battery cars by 2030.