Another scaling back of EVs in the face of subdued demand, this time by Mercedes Benz. I think we can expect further short term weakness in battery commodities but then a moderate rebound as supply-demand becomes more balanced with lower investment in EV production.
Mercedes-Benz delays electrification goal, beefs up combustion engine line-up: https://www.reuters.com/business/autos-transportation/mercedes-benz-hits-cars-returns-forecast-inflation-supply-chain-costs-bite-2024-02-22/
Media Reports, page-3418
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