Given the declining demand for EVs, it appears that hybrids might be poised for a comeback. GM CEO Mary Barra has said that the company intends to launch plug-in hybrid vehicles, according to CNBC.
Barra made the news, albeit without providing many specifics, on a Q4 earnings call with investors. She stated, according to CNBC, that the technology will be available on “selected” vehicles. She took cautious to note that GM is still dedicated to reducing its emissions while making this statement.
“GM remains committed to eliminating tailpipe emissions from our light-duty vehicles by 2035,” Barra stated. “But in the interim, deploying plug-in technology in strategic segments will deliver some of the environmental benefits of EVs as the nation continues to build its charging infrastructure.”
In all four of its divisions, GM does not offer any hybrid or plug-in hybrid cars, with the exception of the recently released Corvette E-Ray. Barra actually mentioned a slowing in EV uptake on the results call, which coincides with her abrupt change in approach. She reiterates her optimism on the adoption of EVs, noting that this year’s deliveries could surpass industry projections by 3%.
Dealers and consumers can take heart from GM’s about-face this year, as the company has made a big show of pledging to become fully electric. As EV buying patterns evolve, dealers have allegedly put pressure on GM to offer more hybrid alternatives.
It might also be the first domino to fall when hybrid car demand hits all-time highs. A growing number of buyers of electric cars are open to the idea of hybrid vehicles and may even be prepared to pay extra for the technology compared to a gas-powered vehicle.
Conversely, pure EVs are experiencing a softening in demand as more realistic consumers are less inclined to modify their lifestyles in order to drive a totally electric vehicle. Exorbitant pricing isn’t making matters better either.
For consumers who still desire an ecologically friendly car, hybrids can be a useful transitional technology while automakers like GM and competitor Ford temper their expectations for electric vehicles. Additionally, it seems that customers are paying greater attention to businesses that emphasise hybridization.
According to a new survey by the consulting firm GBK Collective, consumers who are interested in purchasing an EV or hybrid are most likely to pick Toyota over Tesla, which has always placed a higher priority on hybrids than electric vehicles.
For consumers, having more hybrid vehicles on dealer lots is a positive thing because the few available models are now more expensive due to scarcity. More alternatives should reduce some of this cost pressure and attract more consumers to the hybrid market.
Even while there are still questions about whether EVs are practical, the rise in popularity of hybrid cars is a reminder that there are other routes to sustainability and that every car—hybrid or electric—contributes to our collective progress.
A critical chapter in the continuous narrative of electrifying our transportation landscape, the story of hybrids may not end with a return, but rather a continuance if technical developments, environmental considerations, and responsible consumer choices are encouraged.
The post GM To Sell Plug-In Hybrids To Tackle Slow EV Demand appeared first on TechStory.
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