Mercedes pumps the brakes on EV goals after profits drop

Mercedes-Benz reiterated this week that it will continue to produce gas-powered vehicles well into the next decade, acknowledging its goal for producing nothing but electric vehicles is not going as well as the company hoped, amid a decline in profits.

"We want a CO2-neutral fleet by 2039," CEO Ola Källenius said in prepared remarks to shareholders at the automaker's general meeting on Wednesday. "However, the transformation might take longer than expected."

Källenius said Mercedes...