Industry: Mercedes Board: "Internal combustion engine profits finance sustainability investments"
With recycled aluminum and door handles made from old tires, Mercedes wants to decarbonize its vehicles. Board member Olaf Schick has adjusted the sustainability strategy.
Mercedes-Benz is refocusing its sustainability strategy on its vehicles, according to Olaf Schick, the company's head of integrity, governance, and sustainability. Schick aims to increase partnerships, invest more efficiently, and streamline sustainability governance. The company is under pressure due to declining profits and sales, particularly in China, but Schick emphasizes that Mercedes can afford to prioritize sustainability.
The company's electric vehicle offerings are expanding, but currently generate lower profits than combustion engine vehicles due to high battery costs, with parity expected by the end of the decade.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
