In a shocking move that stunned the automotive world, Mercedes-Benz just scrapped their $47 billion electric vehicle program and announced a return to combustion engines. This huge reversal comes only two years after the luxury brand boldly committed to phasing out all gas-powered cars by 2030.
So why did Mercedes suddenly abandon ship right as the electric era was gaining momentum? Well, turns out the regulatory winds pushing them towards EVs... have died down.
It all started when ambitious government mandates essentially forced automakers like Mercedes to embrace electric-only fleets or face crippling fines. Mercedes took the bait and made a big public pledge to go all-in on EVs, despite electric sales only making up 11% of current demand.