Mercedes-Benz on Thursday walked back plans to have an all-electric line-up by 2030 as consumers decline to adopt electric vehicles (EV) at the rate automakers expected.
The company has changed its expectations to have only 50% of its sales be EVs by 2030, announcing that it will be updating its current line-up featuring the internal combustion engine into the next decade, according to Mercedes-Benz in its fourth quarter report. EV sales grew 21% year-over-year in 2023, but total car sales remained relatively the same, bucking hopes that EVs would fuel growth as the automaker pushes electric models.
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