"Emissions-free driving is at the centre of our strategy. In the coming years we will spend 10 billion euros (R138bn) on building up our electric fleet," chief executive Dieter Zetsche told investors in Berlin, promising battery-powered versions of vehicles from the tiny Smart to large Mercedes SUVs by 2022.
Until now, the carmaker had promised the expansion of its electric range would be completed by 2025, with between 15 and 25 percent of Mercedes sold being electric by that date.
The carmaker will invest one billion euros in battery production, half of it going to its facility in Saxony, eastern Germany.
Stuttgart-based Daimler also produces a range of plug-in hybrids – equipped with both an electric and combustion motor – and will expand its electric offering to heavier vehicles with a first all-electric truck this year.