Mercedes-Benz changes course on its EV strategy and reassures investors

Photo: Mercedes-Benz
Mercedes-Benz is adjusting its electrification strategy due to market difficulties. The German luxury brand is pushing back its aim to go all-electric by 2030, Reuters says. The company also assures investors that it will continue making vehicles with combustion engines well into the next decade.
In 2021, Mercedes—along with other automakers—was hopeful about the future of EVs. The company committed €40 billion, about CA$58 billion, to a strategy that would phase out the combustion engine and sell only EVs by the end of the decade. The plan was realistic for a company that was launching the EQ lineup, which was only EVs. It also aligned with the E.U.'s ban on new gas and diesel vehicles sales by 2035.