Editor/Reporter - CheersandGears.com
January 5, 2012
A study done by consulting firm KPMG found out two-thirds of auto execs that combined hybrid and EV sales will account for as little as 6% of the market in the United States and Western Europe as late as 2025. However, the execs say they will still invest in the technology.
"They are hedging their bets. They are saying that we don't know yet what the winning vehicle technology will be for the future, and so they are going to invest in all of it and let the market decide," said Gary Silberg, national auto industry leader for KPMG.
The study, which asked 200 auto execs also revealed;
- 81 percent anticipate larger investments in battery packs and battery cell technology
- 85 percent believe automakers will invest in more electric motor production
- 76 percent expect more investment in electronics for electric vehicles
Source: Automotive News (Subscription Required)