Several automakers are planning to be EV-only brands in the next decade. One of them is Mercedes-Benz, yes you read that right, the company earlier said that it wants to be EV only brand by 2030. Now, according to the latest report from Reuters, the company has now delayed its electrification goal by five years and assured investors it would keep sprucing up its combustion engine models, becoming the latest carmaker to flag a weaker-than-expected appetite for battery-powered cars.
The company's goal is to deliver electric vehicles, including hybrids, to account for up to 50% of the total by 2030 - five years later than its forecast from 2021, when it aimed to hit the 50% milestone by 2025 with mostly all-electric cars. According to reports, Ola Kaellenius, CEO, Mercedes-Benz, cautioned that even in Europe sales would not be all-electric by 2030. Currently, battery-powered vehicles in Mercedes' lineup account for only 11% of its total sales - 19% including hybrids.
Best Mercedes Electric Car in India
- Benz EQB - Rs. 77.50 Lakh
- Mercedes-Benz EQE SUV - Rs. 1.39 Cr
- Mercedes-Benz EQS - Rs. 1.59 Cr
- Mercedes-Benz AMG EQS - Rs. 2.45 Cr3
Its current plans for updates mean "it is almost like we will have a new lineup in 2027 that will take us well into the 2030s," Kaellenius said. Shares in the luxury carmaker were up 5.9% following the news, also supported by a 3 billion euro ($3.3 billion) share buyback programme unveiled late on Wednesday.
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