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Mercedes Abandoning Its All-EVs Plan

The market for electric vehicles is continuing to short-circuit.

Mercedes-Benz is responding to a slump in EV sales by rolling back its pledge to become fully electric by 2030. The company introduced that goal with a marketing strategy called “The Economics of Desire.”

But now Mercedes is recognizing consumers aren’t sharing that desire.

The company acknowledged it would be making fossil fuel-powered cars “well into the 2030s,” with CEO Ola Källenius ruefully admitting that “the (electric) transformation might take longer than expected.”

More bad news for the greens: Renault shelved the stock market launch of its EV business Ampere. GM also cut EV production targets due to slowing demand. Ford Motor Co. is retrenching its EV strategy by reducing spending by $12 billion on battery-powered models, delaying new EVs, and postponing and shrinking planned battery plants.

Hello! You can’t sell cars that people don’t want.

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