Carmakers bet on hybrids as shift to EVs slows

Carmakers bet on hybrids as shift to EVs slows

A combination of still high interest rates and concern over inadequate charging infrastructure has chilled buyers’ enthusiasm for fully electric cars, prompting a rebound in sales of hybrid vehicles that most of the industry had long regarded as nothing more than a stop-gap. Tapping the resurgent de...

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Bibliographic Details
Published in:FT.com
Main Authors: Novik, Mari, Alim, Arjun Neil, Inagaki, Kana, Campbell, Peter
Format: Newspaper Article
Language:English
Published: London The Financial Times Limited 10-05-2024
Subjects:
Automobiles
Consumers
Electric vehicles
Profits
United States > US
China
Europe
Online Access:Get full text
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Summary:A combination of still high interest rates and concern over inadequate charging infrastructure has chilled buyers’ enthusiasm for fully electric cars, prompting a rebound in sales of hybrid vehicles that most of the industry had long regarded as nothing more than a stop-gap. Tapping the resurgent demand for hybrids was a priority, executives from General Motors, Nissan, Hyundai, Volkswagen and Ford told the Financial Times’ Future of the Car Summit this week. According to Schmidt Automotive Research, Chinese brands like BYD as well as brands such as Polestar that manufacture in China accounted for almost 10 per cent of the fully electric cars registered in western Europe in March.