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Mercedes Benz Pauses EV Deliveries: Market Implications for TSLA and MBG
Mercedes Benz Pauses EV Deliveries: Market Implications for TSLA and MBG
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BTCCSquare news:
Mercedes-Benz (MBG) has temporarily halted deliveries of its electric vehicles in the U.S., citing slowing demand and high dealership inventories. The decision, announced Wednesday, could further solidify Tesla's (TSLA) dominance in the EV market. MBG shares fell 3% following the news, while TSLA saw a marginal uptick.
CEO Ola Kaellenius acknowledged the slower adoption curve but maintained Optimism about long-term U.S. EV demand. Tesla's competitive position strengthens amid this development, coinciding with its new $4.3 billion battery supply deal with LG Energy Solution. The lithium iron phosphate batteries will be sourced from LG's Michigan facility, though the customer identity remains undisclosed per agreement terms.
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