Mercedes Benz Group AG is easing off its aggressive electric vehicle goals as sales lag, pushing the luxury automaker to keep producing its trusted combustion engines.
“The transformation might take longer than expected,” CEO Ola Källenius told shareholders during the company’s annual meeting on Wednesday.
The German automaker previously aimed to produce a fully electric new car fleet by 2030 but Mr. Källenius says the company now has no plans in the near future to stop building its combustion engine.
“There will be both in the years: electric cars and cars with ultra-modern electrified combustion engines,” he said. “If the demand is there, well into the 2030s.”...
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