We’ve said it before: the future of vehicle design is eclectic, not electric.
For the past few years, many auto-industry analysts have predicted that electric vehicles (EVs) had unstoppable momentum in the marketplace and would soon replace traditional gas- and diesel-powered vehicles, and there were reasons to believe them. In 2017, GM* upset the industry when it announced a shift to focusing entirely on making electric trucks and cars, and it set a timeline to completely phase out internal-combustion vehicles. Around the same time, Volkswagen,* Volvo,* Honda* and Ford* also dramatically increased spending on EV development. At first, that investment seemed to be paying off. Sales of EVs boomed as early adopters rushed to take advantage of new-model offerings and incentives from vehicle manufacturers and Uncle Sam. But the party’s over. The push to sell EVs has outpaced consumer demand and EV sales have fallen far behind projections.
See the July AMSOIL Magazine for more information.
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