Mercedes-Benz is experiencing a slower-than-anticipated uptake of electric vehicles, as revealed by Chief Financial Officer Harald Wilhelm on Thursday. He characterized the electric vehicle (EV) market as highly competitive, referring to it as a “challenging environment.”
Despite these challenges, the company remains firmly committed to achieving its EV goals. However, Wilhelm acknowledged that if the profit margins on electric vehicles continue to be less lucrative than previously projected, Mercedes-Benz could leverage its combustion engine lineup to bolster its financial performance.
Wilhelm expressed concerns about the intense competition within the EV market, noting that some traditional automakers are pricing their Battery Electric Vehicles (BEVs) even lower than their internal combustion engine (ICE) counterparts. He emphasized that the current state of the market might not be sustainable for all players in the long run.
