Mercedes-Benz postpones its EV targets

Mercedes-Benz has pushed back its EV targets by five years and reassured investors of its commitment to enhancing its combustion engine lineup. This move reflects a broader market trend: lower-than-expected demand for electric vehicles. The company now projects that by 2030, 50% of its total sales will come from EVs and hybrids. This is a shift from its previous forecast in 2021, where it aimed to achieve the 50% milestone by 2025 with all-electric vehicles.