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Mercedes-Benz CEO Says Luxury Drivers Fuel the EV Transition

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Oct. 10, 2022—The CEO of Mercedes-Benz said that luxury consumers will help fuel the electric vehicle push. 

According to CNBC, the automaker's CEO Ola Kallenius told Jim Cramer of CNBC that the popularity of ICEs is likely to remain for a time, but those who drive luxury vehicles will be more adamant about fully electric vehicle options. He noted the possibility of a dominant electric vehicle market in the luxury segment emerging sometime during this decade. 

Mercedes has a corporate goal to be carbon neutral by 2039, and it will have electric versions of all vehicle models by the year 2025. After that point, the automaker's new vehicle architecture development will only be electric. 

Kallenius said he anticipates that the Mercedes customer base will continue to warm up to the idea of electric vehicles, as the goal is to give these customers a superior option to what they have driven before. According to CNBC, Mercedes delivered approximately 31,000 EVs during the first half of 2022. 

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