“The reports of my demise have been greatly exaggerated,” Mark Twain reportedly once said, and the same appears to hold true for the internal combustion, it appears.
A new study suggests that gasoline power is likely to have more staying power than many might have anticipated due to a stream of technological advances reducing emissions and increasing fuel efficiency. And that is likely to mean much lower acceptance for alternative powertrain technologies, such as plug-in hybrids and battery-electric vehicles, or BEVs, cautions the Boston Consulting Group.
Demand for electrified vehicles will likely grow in China and Europe faster than in the U.S., reflecting strong government support for advanced technologies, the BCG report indicates.
“Electric cars will undoubtedly play an increasingly large role in many countries’ plans as energy independence and environmental concerns intensify,” said Xavier Mosquet, global leader of the consulting firm’s automotive practice. “But they will gain only modest ground up to 2020.”