Mercedes says it will cut production costs over the next two years while at the same time, it will roll out almost 40 new or heavily revised models in an effort to reverse its fortunes. The automaker expects earnings to take a big hit in 2025 and thinks a renewed focus on traditional combustion power could help stop the slide.
It wasn’t long ago that Mercedes was vowing to go EV-only in major markets by 2030, but terrible sales figures for many of its electric cars has prompted a major rethink. The brand isn’t turning its back on EVs by any means – 17 of the new models it will launch by 2027 will be battery-powered. But 19 of the new cars will have combustion power and live on well into the 2030s.
Read Article