The growth of hybrids and EVs won’t stop, according to BorgWarner CEO James Verrier. Even with the 54.5-mpg CAFE standard’s future in question, the company will continue with its plan to introduce new transmissions, motors, and other components for hybrids and EVs. Speaking with Automotive News, Verrier says that automakers have spent a large amount of money in making their vehicles lighter and more efficient, and invest in developing EV technologies.
“I don’t think the automakers will back off,” Verrier told Automotive News. “I don’t think we’ll see regression.” He continued by stating that the future of 54.5-mpg CAFE standard is currently not certain and its not known what will happen to it, and whether it will get pushed back or not. In addition to producing turbochargers, BorgWarner also makes components for EVs and hybrids, and Verrier predicts that growth is there in the future. Despite the election of Donald Trump as the 45th president of the U.S., BorgWarner believes that Europe and China will continue to pressure automakers to improve fuel efficiency and produce environmentally friendly vehicles.
Major automakers such as Mercedes-Benz and the Volkswagen Group also have major commitments in developing EVs and hybrids. Additionally, the Detroit three are also developing their own hybrids and EVs to better compete in the market against rivals from Asia and Europe.
Source: Automotive News
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