Feb 28, 2024,
Mercedes-Benz revealed that it will now delay its goal of becoming an electric vehicle-only brand by 2030. The firm added that it will continue to produce internal combustion-engined cars and hybrids well into the next decade.
Spurred on by weaker than expected demand for EVs, this about-face was the most recent indication that the global car industry is growing increasingly pessimistic about an all-electric future. Last month, Renault shelved plans to list its EV business Ampere because of sluggish stock market conditions. GM also cut EV production targets due to slowing demand.
Mercedes-Benz’s CEO Ola Kallenius says that his company will adopt a flexible strategy as it reacts to “peaks and troughs” in the transition towards EVs.
A mere three years ago, Mercedes expressed great optimism regarding plug-in powertrains, declaring that it will exclusively sell electric vehicles by 2030. The firm stated at the time that it would phase out gas-powered cars completely, with the proviso that it would only do so “where markets allowed.”
