Mercedes-Benz Walks Back Electric Car Sales Expectations
Mercedes-Benz has revised its electric car sales expectations, admitting that it will take longer than previously thought to achieve its goal of selling 25% of its cars as electric vehicles by 2025.
The German automaker originally announced this target in 2020, but has since walked it back, saying that it now expects to reach 25% EV sales by 2027.
Mercedes-Benz CEO Ola Källenius said that the company's target was "ambitious" and that it was "a bit too optimistic" about how quickly the market for electric cars would grow.
"We still believe that electric vehicles are the future, but it's going to take a little bit longer than we thought," Källenius said.
Mercedes-Benz is not the only automaker to have revised its electric car sales expectations. In recent months, several other automakers have also scaled back their targets, citing the rising cost of raw materials and the ongoing chip shortage.
Challenges for Automakers
The auto industry is facing a number of challenges as it transitions to electric vehicles. One of the biggest challenges is the rising cost of raw materials, such as lithium and cobalt. These materials are essential for the production of electric car batteries, and their prices have been rising sharply in recent months.
Another challenge is the ongoing chip shortage. This shortage has been causing production delays for all types of vehicles, including electric cars.
Market Demand for Electric Cars
Despite the challenges, the market demand for electric cars is growing rapidly. In 2021, electric car sales increased by more than 80% globally. This growth is expected to continue in the coming years, as more and more consumers become aware of the benefits of electric vehicles.
Mercedes-Benz's Electric Cars
Mercedes-Benz is one of the automakers that is leading the way in the development of electric cars. The company currently offers a range of electric vehicles, including the EQS sedan, the EQE sedan, and the EQC SUV. Mercedes-Benz also has plans to launch several new electric vehicles in the coming years, including the EQG SUV and the EQS SUV.
The transition to electric vehicles is a complex and challenging process. Automakers are facing a number of challenges, including the rising cost of raw materials and the ongoing chip shortage. However, the market demand for electric cars is growing rapidly, and Mercedes-Benz is one of the automakers that is leading the way in this transition.