Posted 2/23/2024, 6:30:00 PM
Mercedes Dials Back Electric Vehicle Commitment, Will Continue Selling Gas Cars Through 2030s
- Mercedes is postponing its plan to sell only electric vehicles by 2030, breaking a previous commitment
- The company now expects electrified vehicles (including hybrids) to make up just 50% of sales by 2030 instead of 2025
- Mercedes says it remains committed to combustion engines and will update those vehicles through the 2030s
- The change reflects weakening demand for EVs in the U.S. and Europe lately
- The revised plans helped boost Mercedes' stock price initially as investors seemed reassured