When EVs get cheaper, Mercedes scraps 2030 EV target, Volvo chops Polestar: Today’s Car News
Mercedes reels back its global targets for EV sales, although it’s still pushing ahead with current EV plans. Volvo details how it’s backing away from Polestar. And EVs will likely get cheaper than gasoline vehicles before the end of the decade. This and more, here at City Dwellers.
Mercedes-Benz has delayed its EV targets announced earlier in the decade. While it had planned for EVs and hybrids to make up 50% of its sales by 2025, it now expects to hit that target in 2030. It also appears to have scrapped its plan to only sell EVs by 2030 where market conditions allowed.
Volvo has clarified how it will shed most of its stake in Polestar, as the EV startup struggles and has become, as some have observed, a drag on Volvo resources.
Before the end of the decade, EVs may be cheaper than gas models. According to a study out this week from the International Council on Clean Transportation (ICCT), a glut of lithium plus Biden policy will result in lower battery prices and, most importantly, much lower EV sticker prices relative to gasoline vehicles. The affordability gains will happen without Biden incentives, just more slowly.
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