BERLIN — Daimler’s supervisory board signed off an funding plan price over 60 billion euros ($67.88 billion) for the Mercedes-Benz passenger automotive and vans companies between 2022 and 2026.

The corporate goals to be on the forefront of electrical car manufacturing and software program, Daimler mentioned in a press release on Thursday.

Present plans introduced in October of 2020 to scale back capital expenditure by 20 % from 2019 ranges by 2025 stay in place, the assertion mentioned, with new spending centered on electrification, digitalization and autonomous driving.

Growing web income per car and implementing a direct gross sales fashions shaped a part of this technique, it mentioned, including that advances in battery know-how and manufacturing ought to assist scale back the price of battery-electric automobiles over time, Daimler mentioned.

“Our aim is technological management within the automotive luxurious section and within the space of premium vans whereas remaining dedicated to our bold margin targets,” Daimler CEO Ola Kallenius mentioned within the assertion.

The assertion was issued every week earlier than the vehicles and vans division splits off from Daimler truck and buses on Dec. 10.