German premium car manufacturer Mercedes has backed out of its plan to stop producing conventional car engines by 2030. This comes at a time when large funds such as Blackrock and JP Morgan are increasingly divesting from ESG investments. I think this has to do with the higher interest rates and the fact that it is no longer possible to easily finance projects that could never be realized in a real market under real conditions. Reality sets in when the capital market shows the red card!
https://autogear.pt/en/mercedes-backs-down-on-the-plan-to-become-fully-electric-by-2030/
Good for them. They are not in the business for nonsense.
Let's hope they'll lead the european economy out of the davosian trap.
I don't think it's possible. Lumping Europeans into a group is stupid. There's no singular culture, people, it's just central planning nonsense.
Sorry. I meant to 'lead' in the sense of showing that it's still possible to act autonomously.