In a pivot amid slowing EV sales, Mercedes will adopt BMW's 'little bit of everything' plan for future ICE cars and hybrids too.
When automakers kicked off their electric vehicle arms race a few years ago, their plans ran on a lot of assumptions. One of the biggest was that customers would just show up for EVs like they have for their other cars—loyal Audi owners would buy Audi EVs, Mercedes owners would buy Mercedes EVs, and so on. But many of them neglected to think that their EVs would have to be actually good for customers to make that leap.
As for Rivian, it has said that it expects to be 'gross profit positive' by Q4 of 2024, but we'll learn more about that trajectory soon. Rivian's shares were bolstered by the big investment and tech joint venture with Volkswagen, but that's going to be a long-term play and probably not something that yields immediate, overnight returns. More on both stories as we learn more.
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