Please raise your hand if you saw this coming. Mercedes admits it got too excited about the transition to electric vehicles. During the press conference related to its 2023 results, the German luxury brand said plug-in hybrid and electric cars are now projected to account for 50 percent of total sales by 2030. It's a five-year delay compared to the original plan. In July 2021, the company estimated PHEVs and full EVs would represent half of the volume by 2025.
