Automakers Scale Back Electric Vehicle Plans Due to Weak Consumer Demand
• Mercedes is scrapping its plan to only sell electric vehicles by 2030 due to lower than expected consumer demand for EVs
• The company now expects EV sales to reach only up to 50% of total sales by 2030, down from its previous 100% target
• Tesla CEO Elon Musk said Tesla expects slower EV sales numbers in the upcoming year
• The Biden administration is easing its push to force EVs onto consumers amid low demand, dealer concerns, and automakers cutting EV production
• Ford is cutting 1,400 jobs at its electric F-150 plant due to low customer demand for the truck