Mercedes-Benz to wait and see if electric vehicle demand picks up before adding battery production capacity

Mercedes-Benz Chief Technology Officer Markus Schaefer stated on July 8 that given that the current market demand for electric vehicles is lower than expected, the company will decide whether to increase battery production capacity after confirming that demand has recovered. Previously, Mercedes-Benz expected to need more than 200 GWh of battery production capacity by 2030, and planned to build eight battery factories around the world, four of which are located in Europe. However, due to market demand that is lower than expected, Mercedes-Benz has postponed its sales target for electric vehicles (including hybrid vehicles) from 2025 to 2030, when electric vehicle sales are expected to account for half of total sales.