Mercedes-Benz is scrapping its plans to only sell electric vehicles after 2030 as consumer demand for EVs remains lower than what automakers projected.
The Verge said that the report showed a stunning turnaround for the German automaker from its pledge three years ago to completely phase out selling gas-powered vehicles by 2030 and to only sell EVs.
“Customers and market conditions will set the pace of the transformation,” Mercedes said in its fourth quarter earnings statement. “The company plans to be in a position to cater to different customer needs, whether it’s an all-electric drivetrain or an electrified combustion engine, until well into the 2030s.”
The report said that the company only expects EV sales to reach “up to 50%” of their total sales by that point, indicating that it could be even less than half.
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