Abandoning electric and returning to fuel? Mercedes-Benz: Never gave up, just postponed the goal for five years

Recently, news that "Mercedes-Benz is going to give up electric vehicles" has spread online. On March 7, Mercedes-Benz responded to this: Mercedes-Benz's firm determination to transform to electrification remains unchanged. In the Chinese market, Mercedes-Benz will continue to promote electrification transformation and bring customers a rich selection of luxury products.

Recently, news that "Mercedes-Benz is going to give up electric vehicles" has spread online. On March 7, Mercedes-Benz responded to this: Mercedes-Benz's firm determination to transform to electrification remains unchanged. In the Chinese market, Mercedes-Benz will continue to promote electrification transformation and bring customers a rich selection of luxury products.

But it is undeniable that Mercedes-Benz has lowered its established 2030 electrification transformation target. In 2021, Mercedes-Benz announced that from 2025, all new cars will only adopt pure electric design, and new energy sales (including hybrid and pure electric) will account for 50%; by 2030, all electric vehicle sales will be achieved.

However, Mercedes-Benz's electrification has hit the brakes. In February this year, Mercedes-Benz announced that it would postpone its electrification goal for five years, and it is expected that by 2030, the sales of new energy vehicles will account for 50%. It also assured investors that it will continue to improve its internal combustion engine models and plans to continue producing internal combustion engine vehicles in the next ten years.

This is a decision based on factors such as its own electric vehicle development not meeting expectations and weak demand in the electric vehicle market. In 2023, Mercedes-Benz's global sales will be 2.4916 million vehicles, a year-on-year increase of 1.5%. Among them, electric vehicle sales will be 470,000 vehicles, accounting for 19%. It can be seen that oil vehicles are still the absolute main force in sales.

Although sales have increased slightly, Mercedes-Benz's net profit in 2023 fell by 1.9% from the previous year to 14.53 billion euros.

Compared with the worry-free sales of oil vehicles, the electric vehicle business still needs continuous investment in its stable contribution to the group's profits. Based on the consideration of improving profitability, it is reasonable for Mercedes-Benz to slow down the electrification process and restart the research and development of internal combustion engines.

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