Mercedes-Benz, a luxury car manufacturer in Germany, is changing its commitment to fully transition to electric vehicles ( EVs ) by 2030 in response to declining sales and the return to gas-powered vehicles that are still popular with auto buyers.
According to Bloomberg UK, Mercedes- Benz CEO Ola Källenius told shareholders on Wednesday that the automaker’s” change” to EVs “might taking longer than expected”.
By 2030, Källenius aimed to have Mercedes-Benz become completely energy. In July 2021, Mercedes- Benz announced its all- energy drive, vowing to switch from an “electric- first” to “electric- just” agenda.
” The Automotive transition is picking up speed — especially in the luxury segment, where Mercedes- Benz belongs”, Källenius said in 2021:
By the end of the decade, we will be prepared for the transition from electric to a more traditional model. This is a significant cash redistribution. We will maintain Mercedes-Benz’s long-term success by managing this faster change while keeping our profitability goals in mind. I’m confident that we will succeed in this exciting new age thanks to our very qualified and driven labor. ]Emphasis added]
These plans have been hampered by disappointing orders for its all-electric sedans, which have resulted in margin losses of 9 % in the first quarter. Otherwise, Mercedes- Benz will continue making gas- driven cars past the start of the next decade.
Not just the wealthy manufacturer is giving up an electric-only plan.
Due to a lack of demand among American consumers, Ford Motor Company announced in January that it would reduce output of its all-electric F-150 Thunder delivery truck, cutting production by almost half.
In contrast, almost half of Buick traders nationwide decided to buyout General Motors in order to avoid selling EVs in the late last year. Due to a lack of demand, auto traders have asked President Joe Biden to stop enforcing EV demands.
For Breitbart News, John Binder is a writer. Email him at jbinder@breitbart. com. Following him on Snapchat here.
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