Posted on 02/23/2024 7:25:53 AM PST by Red Badger
The company initially planned to be all-EV by 2030, but it said today that EVs will make up 50% of its sales by the end of the decade.
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There’s no longer an expiry date on Mercedes-Benz combustion engines. Due to the recent trends of slower-than-expected demand for EVs, the German automaker is recalibrating its EV transition pace, cutting down the number of electric models it expects to sell by 2030 in half, the brand announced today in an investor statement.
Earlier, Mercedes-Benz had pledged to go fully electric by 2030, and permanently consign its combustion engines to the history books by then. But it now plans to continue selling ICE cars well into the next decade. It has halved its EV goals, and pure electric models and hybrids will account for up to 50% of its sales by 2030.
“Unexpected developments may arise in particular from geopolitical events and trade policy,” Mercedes-Benz said in the statement. “Further supply chain disruptions and in particular, availability bottlenecks for critical components, remain a significant risk factor,” it added.
However, the brand would remain “strategically focused” and “tactically flexible,” as it awaits for demand to catch up, charging infrastructure to mature, and the supply chain to streamline. Following the latest development, the carmaker's stock price went up 5.9% and was also supported by a $3.3 billion share buyback program late on Wednesday.
Over the past couple of years, we’ve seen an EV on-slaught from the German automaker in Europe. Even in the U.S., Mercedes-Benz now offers six pure electric models, including the EQB SUV, EQE and EQS sedans and SUVs, and the opulent EQS SUV Maybach. It also sold a record number of EVs in 2023.
Even though Mercedes-Benz CEO Ola Källenius has pledged for his company to go fully electric, he has also stated that the internal combustion engine would die a natural death and that Mercedes-Benz wouldn’t transition “artificially.” In a nutshell, Mercedes-Benz ICE cars would continue to exist as long as customers want them.
How the carmaker plans to continue developing its electrified powertrains would be worth keeping an eye on. Reports emerged in August 2023 of Mercedes-Benz developing its M252 engine to function as a range-extender—a set-up where the engine works as a generator to charge the EV’s battery and functions independently from the electric motors that actually drive the wheels.
The Ramcharger, some Geely models in China like the Galaxy L7 SUV, as well as the BMW i3 and Chevy Volt are range extenders. The technology improves the EV’s overall driving range by reducing reliance on the battery alone, providing increased flexibility, and eliminating range anxiety for drivers. But the caveat is it still needs fossil fuels for power, which is quite contradictory to what the EV and climate movement is all about.
Next-generation Mercedes EVs are expected to ride on the Modular Mercedes Architecture (MMA), which would be designed for EVs and ICE cars as well. The production version of the new CLA, whatever it will be called in its final form, will be the first model to ride on the MMA followed by the next GLA and GLB models.
“EVs will make up 50% of its sales by the end of the decade”
Yeah, we’ll see about that.
Reality is a real problem for the left.
It is jaw dropping to know a company like MB is run by leftists. Toyota is the only car maker that stood firm against the madness.
TeslaGator has the sads 😢
Those who said back on announcement day, never ever going to happen, perhaps all turboDs if the regulators are insane, should be smug today. I love a fully featured turboD powertrain without the garbage electronics. Just started a 1980 era monster CAT that had not moved 6 months, and has only about 120 hours on it since Y2K. It took 30 minutes of the battery boiler and 25 seconds of cranking sitting in the afternoon sun. The kids wanted use the spraycan... I said no. I hear it humming from across the yard, it will be making money next week pushing mud with zero problems. Poor kid who drives it will not have a bluetooth sound system unless he brings it.
I wonder if Volvo went all ev like they said they were gonna do?
It’s like our nation is on the brink of destruction, and the sane folks are desperately trying to save the nation, but the left, those who hold all the power, are hell bent on destroying it. Seems like sanity is holding on by the skin of its teeth these days- a liberal cheated into office in 2024 may very well spell disaster for the nation- not irreparable, but more so than in past times, as the lefts agenda has morphed into them taking the nation by force now- imprisoning those who object.
Mercedes Benz seems to be on the right track. So far the ever-increasing list of problems occurring with EVs would seem to indicate that every manufacturer should concentrate on ICEs or continue building stuff they can’t sell. The only other alternative I see would be to build just a very small number of EVs & then hope they can sell them, but there likely will be no profit in that.
Will they go out and force people to buy their expensive EV’s? That would make for an interesting marketing strategy.
Yep, we’ll see about that. I predict maybe 5%-10% will be EVs.....industry wide.
“Will they go out and force people to buy their expensive EV’s”
This is the plan if the ommunists take back control of the Congress and the WH.
QUICK! Someone get Greta Thunderpants on the phone!
Notice “hybrid” is the weasel word in this announcement. Pure EVs aren’t even 50% in their lefty-mollifying plans.
You should get a kick outta this....happened where I am. Enjoy!
a set-up where the engine works as a generator to charge the EV’s battery and functions independently from the electric motors that actually drive the wheels.
Sounds like a hybrid to me. Except can’t say hybrid. They’ve been around a long time and are, and have been, a solid alternative to pure electric. So, gotta call them something else.
Only problem is, if I remember correctly, the auto companies, Toyota in particular since I worked with them for years, is they lost money on all they made.
MB decides to stay in business.
👍😎..............................
‘PHEV’ is the new buzzword..................
Janis Joplin is relieved.
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