Mercedes Executive Says All-Electric AMG GT Should Never Have Been Launched; Project Now Can't Be Stopped

An unnamed Mercedes-Benz executive stated that the all-electric AMG GT four-door "should never have existed," but the project has advanced to a point where it cannot be halted. According to Germany's Manager Magazin, development costs for AMG’s electric models alone have exceeded $1 billion. By comparison, Mercedes-Benz invested approximately €5 billion in developing the EQS and EQE SUV electric models. These EVs were spearheaded by former CEO Ola Källenius in an effort to catch up with Tesla’s surging stock price. The report notes that after EQ-series vehicle sales plummeted by 90% in 2024, the Mercedes-Benz board recognized the initiative as a failure, calling it “the biggest product flop in Mercedes-Benz history.”