Daily Management Review

European Carmakers Take Fight To Tesla, Saying 'Future Will Be Electric'


09/12/2017




European Carmakers Take Fight To Tesla, Saying 'Future Will Be Electric'
As the traditional European automakers seek to gain market share in a space dominated by U.S. upstart Tesla, they are now increasingly prioritizing the development of electric cars over the traditional combustion engines.
 
"It is quite clear the future will be electric," Ralf Speth, Jaguar Land Rover chief executive, said in a television interview.
 
"We are going to deliver a step-by-step complete electrified portfolio and from 2020 onwards all of our cars will deliver the option to be electrified," he added.
 
The pressure on automakers to rapidly develop electric alternatives have bene ramped up by regulators and governments after the global crack down on diesel cars in the wake of Volkswagen cheating on diesel emission tests that rocked the auto industry last year. The scandal started off in the U.S. and gradually spread throughout the world. It not only resulted in the largest fine ever imposed on an auto company in its history, it also resulted in the largest ever recall in auto history. It dented customer confidence on the traditional auto industry.  
 
'We will see battery cars faster than anybody expected'
 
Ultimately, any lingering worries throughout the industry would be alleviated by a collaborative effort between governments and energy markets, said Speth, speaking on the sidelines of the Frankfurt Motor Show.
 
Concerns about a lack of infrastructure investment potentially resulting in the stalling of the rollout of electric cars over the coming years have been raised by several automakers previously.
 
"I am absolutely confident we will see battery cars faster than anybody expected on the street and therefore all of the infrastructure will catch up," he added.
 
Their respective plans to mass produce electric cars in order to challenge the likes of Tesla have been ramped up by traditional carmakers, such as Jaguar Land Rover, MBW and Ford and many others.
 
"We have got an investment of about $4.5 billion in electrified vehicles coming over the next few years. And the first one of those for us, as a specific electrified vehicle in Europe, will be in 2020," Steven Armstrong, EMEA president of Ford, said in another television interview.
 
Armstrong explained the upcoming launch of Ford's electric model would be a "cross-over" style vehicle with a battery range of about 480 kilometers.
 
However there have been lingering questions over 'user convenience'
 
Skepticism that consumers will embrace such cars immediately – especially given the current limitations in battery technology, have been expressed by some automakers despite the buzz around electric vehicles.
 
While the Japanese carmaker Toyota insisted it would be "no exception" in the development of electric cars, its Chairman Takeshi Uchiyamada, in a television interview last week, raised questions over "user convenience".
 
At first, electric cars may only earn half the margin of equivalent vehicles with combustion engines, German carmaker Daimler warned on Monday.
 
(Source:www.cnbc.com) 






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