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Mercedes Backtracks on Its All-EVs Plan

Meanwhile, back on planet Earth, 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.

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

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