Hyperdrive
Mercedes CEO Downplays Risk of Blowback Over Shareholder Payouts
Along with GM, Ford and Stellantis, the luxury-car maker is returning more cash to shareholders while public money supports the transition to EVs.
The Mercedes-Benz Concept CLA Class electric vehicle at the Munich Motor Show in September.
Photographer: Alex Kraus/BloombergThis article is for subscribers only.
Carmakers that have counted on public funds to support their changeover to electric vehicles are warning the transition will take longer and paying out billions to shareholders.
It’s a trend that could come back to bite as politicians in the US and Europe campaign on green policies ahead of major elections this year on both sides of the Atlantic.