Mercedes-Benz Latest Automaker to Readjust Electric Vehicle Strategy

Feb. 23, 2024
The company's goal of 50% of its sales being electric has been postponed by five years.

As electric vehicle adoption faces increasing obstacles, Mercedes-Benz joins several other automakers in re-evaluating its electric vehicle strategy.

According to reporting from Reuters, the company told investors this week that it plans for electric vehicles–including hybrids–to account for up to 50% of its total sales by 2030. It’s a five-year delay to the initial plans outlined by Mercedes in 2021, which were for 50% of sales to be electric by 2025.

CEO Ola Kaellenius affirmed that the company would be investing in continuing the production of internal combustion engine vehicles, and plans to expand upon existing technology for those cars throughout the next decade.

With battery-powered vehicles making up only 11% of Mercedes’ total sales (19% when hybrids are included), CEO Ola Kaellenius has previously said it’s unlikely all of the company’s sales would be fully electric by 2030, even in Europe. 

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