Mercedes Benz retracts plans to only sell EVs by 2030

Mercedes Benz announces a strategic shift, deviating from its initial plan to sell electric vehicles exclusively after 2030

Mercedes-Benz is backing off from its plan to sell electric vehicles only after 2030, the company said.

It was the latest evidence that the global auto industry is feeling more dour about the all-electric future after a slowdown in sales growth.

Only three years ago, Mercedes felt quite bullish about plug-in power trains, saying that by 2030, it would only sell EVs.

At the time, the company said it would completely phase out gas-powered vehicles, including the caveat “where markets allowed.”

Now, the market seems not to be allowing Mercedes to follow through on its plans.

Today, the company said in its fourth-quarter earnings statement that it only expects 50% of its sales to be all-electric, a significant drop from the once rosier outlook.

For years, gas and hybrid vehicles will remain a part of the company’s future.

Source: Newsroom

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