Automakers moderate expectations around EV sales

Wouter Hoeffnagel
Wouter Hoeffnagel
30 July 2024
3 min

More and more carmakers seem to be moderating expectations regarding sales of their electric vehicles (EVs). The latest is Germany's Porsche, which announced this week that its transition to EVs is taking longer than expected.

Whereas Porsche had previously announced that it expected 80 per cent of all cars it sold in 2030 to be electric, the company is now backtracking on this. It has told Reuters that the transition to EVs is taking longer than previously thought. The manufacturer is not abandoning the target entirely, but states that it will only be achievable if customer demand and developments in the sector allow for it.

Ford: '2030 is too ambitious'

Porsche is not alone in this; several other carmakers also downgraded their expectations around EV sales recently. Ford has also backtracked on its EV ambitions. The company announced in 2021 the goal of closing EVs exclusively to customers by 2030. However, Ford now calls this too ambitious; top executive Marin Gjaja reports to Autocar that it is abandoning the target. As a reason, Gjaja cites demand for EVs on the one hand, and uncertainty over relevant legislation on the other.

Ford offers the Mustang Mach-E and Explorer as EVs in Europe, to which the new Capri was recently added.

GM: 'We are not going to reach a million'

US-based General Motors (GM) also expects to fall short of its stated EV ambitions. The company previously announced its goal of selling 1 million EVs in the US by 2025. However, in a recent interview with CNBC, CEO Mary Barra indicated that this goal will not be achieved, as the market is not developing sufficiently.

"We are not going to reach a million because the market is not developing, but we will get there," said Marra. "We will be led by the customer in this." A GM spokesman added that the US carmaker's EV plans will henceforth be "flexible" and based on demand.

Mercedes invests in internal combustion engines

Mercedes previously announced its aim to sell exclusively electric vehicles by 2030. The German company has already backtracked on this goal earlier this year; it announced that it will also offer different powertrains well beyond 2030.

CEO Ola Källenius told the German magazine *Wirtschaftswoche* last month that the company is investing 14 billion euros in the development of passenger cars. The funds are earmarked for the development of EVs and digitalisation, as well as for the development of high-tech internal combustion engines. It is not known what proportion of the budget is allocated to internal combustion engines.

Bentley: 'First EV coming at least a year later'

We will also have to wait a little longer for the first electric Bentley. The British brand had previously announced plans to unveil this model in 2025. However, CEO Adrian Hallmark has now told Automotive News Europe that we should not expect the first electric Bentley before the end of 2026. Deliveries to customers will begin from mid-2027.

Hallmark points to strong demand for plug-in hybrids, among other things. However, consider software, whose development is taking longer. Hallmark also states that there are still concerns within Bentley about the underlying platform of the EV it wants to introduce.

Author: Wouter Hoeffnagel
Image: Pixabay / Gerd Altmann

Wouter Hoeffnagel

Wouter Hoeffnagel is a freelance journalist and copywriter, with interests in both manufacturing industry, IT and the intersection between these topics. He writes a wide range of texts on these topics, ranging from background articles, interviews and news items to blog posts, white papers, case studies and website texts.