Mercedes has changed its mind about switching to electric vehicles by 2030 (2 photos)

25 February 2024

As it turns out, people are in no hurry to buy electric cars.

The German auto giant Mercedes-Benz will not completely switch to electric motors by 2030, as previously planned, reports Reuters. More recently, the company looked positively at the electrification of its cars and hoped that already in 2025 the share of “eco-friendly” and hybrid cars produced by the concern would be 50%. But as it turned out, interest in electric cars in the world is falling, and it’s difficult to compete with the Chinese when, for economic reasons, you have to constantly raise prices for your products.

The automaker promised its investors that it would continue to develop its models with internal combustion engines, after which the company's shares rose by 5.9%. But as it became known a little later, the growth of capitalization was facilitated not by the jubilation of investors who ran to invest money in Mercedes, but by the buyback of shares by the company itself (buyback) for 3 billion euros.

As you know, these are not the best times for the auto giant. It is quite possible that the brand will cease to be German in the near future, since it is becoming expensive to produce cars in Germany. Production is quietly moving to China and the USA. In Germany, 80 car dealerships and the company's headquarters in Stuttgart have already closed as part of "business restructuring".

It is reported that over the past year, the Mercedes-Benz concern raised the average price of a car by 2% - to 74,200 euros. Profit before taxes fell to 19.7 billion from 20.5 billion euros (2022). And this despite the fact that the company’s revenue growth was 2%.

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