In less than 7 years, Mercedes-Benz plans to ditch petroleum-powered vehicles from its lineup. Focusing on electric, fuel cell, and biofuels, the company is revving up research in alternative fuel sources and efficiency.

Anyway, Mercedes is looking into electric vehicles, both battery powered and fuel cell powered. Not only are models in development, but we’ve also seen the company making steps towards their zero petroleum goal right now, from better cabs in London to Li-Ion battery improvements. The company also has about 100 Smart electric cars undergoing testing in London, with that favorite 2010 year as the projected market release date. Mercedes is making serious investments, already putting nearly $4 million into the pot of their long-term Sustainable Mobility plan, with another nearly $1.4 billion going in before 2014.