Electric dreams, hybrid realities
EV transition slows; automakers favor flexible hybrid and combustion portfolios.
For a brief and excitable moment, the future of the car seemed settled. Petrol engines would follow the fax machine into obsolescence. Diesel would survive mainly in litigation. Carmakers proclaimed deadlines for the end of combustion, governments set targets, investors rewarded battery evangelism and punished anything smelling faintly of hydrocarbons. The strategic map appeared to contain only one road. That road has not disappeared, but it is being redrawn.
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