Mercedes-Benz is backing off its plan to only sell electric vehicles after 2030, the company said Thursday. It was the latest evidence that the global auto industry is feeling more dour about the all-electric future after a slowdown in sales growth.
It was only three years ago that Mercedes was feeling quite bullish about plug-in powertrains, saying that by 2030 it would only sell EVs. At the time, the company said it would completely phase out gas-powered vehicles, while including the caveat “where markets allowed.”
Now it seems that the market is not allowing Mercedes to follow through on its plans. Today, the company said in its fourth quarter earnings statement that it only expects 50 percent of its sales to be all-electric — a...
