In the face of slowing global demand for electric vehicles, Mercedes announced in July 2024 that it would adjust its electric vehicle sales target and delay its battery capacity expansion plan accordingly.

Mercedes Chief Technology Officer Markus Schaefer said the company would decide on new capacity depending on demand, as the latest forecast of lower electric vehicle sales than the target set for 2022 meant the planned 200GWh of battery capacity would no longer be necessary.

According to Reuters, Mercedes expects electric vehicles to account for only 50 percent of its sales by 2030, five years later than originally planned. Mercedes has worked with suppliers such as Catl Times to secure battery supplies, but has suspended plant expansion plans in Germany and Italy due to sluggish demand.

On July 8, Mercedes-Benz opened a new battery research and production center at its Stuttgart headquarters, which focuses on innovation in battery chemistry and manufacturing technology, with an annual capacity of tens of thousands of batteries.

Mercedes-benz is developing high-energy anode, cobalt-free cathode lithium-ion battery and solid-state battery technology, and will share technological achievements with partners to promote the battery industry progress.

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