Mercedes-Benz joins list of automakers pulling back on EV commitments as sales slump

Mercedes-Benz is push back its goals for EV sales by five years from 2025 to 2030.

Executives for the German luxury vehicle maker detailed the plan Thursday during their earnings call.

The company now expects sales of its electric lines to reach up to 50% of all sales in the second half of the decade.

In 2021, Business Insider reports, Mercedes-Benz said that by 2030 it would only sell electric vehicles “where market conditions allow.”

The company now says it will “remain strategically focused and tactically flexible” in its transition to an all-electric production.

“Customers and market conditions will set the pace of the transformation,” the company said in its statement.

The company joins other automakers, including Ford and General Motors, in scaling back their plans to transition to full electric lines as the pace of EV sales unexpectedly slows.