On Wednesday, German carmaker Daimler AG said, its revenues in 2021 have got off to a good start. This is despite a global shortage of semiconductors plaguing the automobile industry. Daimler now plans on speeding up the shift towards electric cars in its model lineup.

It continues to expect its 2021 revenues and pre-tax profits to be a significantly better than 2020.

“After a good start with a tailwind from last year, Daimler is confident about the current financial year,” said the company in a statement.

It went on to add, preparations are underway for the planned listing of Daimler Trucks, which should be completed by the end of this year.

In 2019, Daimler had said it expects plug-in hybrids or all-electric vehicles to make up more than 50% of its car sales by 2030.

“We want to accelerate the electrification of our product portfolio,” said Daimler’s CEO Ola Källenius in a statement. “It’s our goal to reach this target sooner.”

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