I think they are doing the right thing by waiting out.

They will reap a series of huge benefits:

- powertrain and battery technologies will get cheaper and more reliable

- they will do much more money for the foreseeable future by focusing on a very cost efficient market they already do well in

- they minimize the investments by having to experiment less

I think that many companies like Mercedes and Ford and Volkswagen FOMOed into a premature EV transition blinded by the growth and margins and Tesla. They are now finding out that EV demand isn't as high as they thought and that even Tesla's growth and margins is collapsing (and obviously will never recover with more competition coming).