Mercedes-Benz Pulls the Plug

( – Citing external factors to justify a course correction that will surely prompt leftwing cries, Mercedes-Benz has shifted gears on its ambitious goal to exclusively sell electric vehicles (EVs) after 2030.

Stating that “market conditions” remain an obstacle to such a full-scale transition, this change of direction comes three years after the German luxury car maker made headlines with its declaration to go fully electric.

The company had earmarked $47 billion to electrify its lineup, with CEO Ola Källenius expressing confidence that the company could achieve this transition profitably and viewing it as a strategic move for Mercedes-Benz’s future success and value.

However, this vision was adjusted in the latest quarterly earnings announcement of the company:

“Customers and market conditions will set the pace of the transformation. The company plans to be in a position to cater to different customer needs, whether it’s an all-electric drivetrain or an electrified combustion engine, until well into the 2030s.”

The brand further clarified that it believes electric vehicles will make up around 50% of its total sales by the second half of this decade, which is a major drop from its initial all-electric aspirations.

This strategic shift follows several high-profile incidents where Mercedes-Benz electric vehicles caught fire and resulted in large damages.

One notable event occurred on New Year’s Eve 2023 in Malaysia, where an EQB model lit up while charging inside a showroom, which caused a raging fire that was recorded in a dramatic video footage.

According to the local fire and rescue commander, the blaze consumed approximately “90 percent of the car, five percent of the showroom building structure, and 20 percent of the electric vehicle charging bay.”

In another incident earlier that year a new Mercedes-Benz EQE350+ electric vehicle unexpectedly caught fire inside a garage at a home in Nocatee, Florida, not even while charging, which caused around $1 million worth of damage to the property.

Signaling the company’s stance down the road Mercedes-Benz CFO Harald Wilhelm added, “This is a pretty brutal space. I can hardly imagine the current status quo is fully sustainable for everybody.”