Research company KPMG has revealed its annual automotive execs survey and the results are depressing.
According to the survey, a majority of auto executives still think that battery electric cars won’t make it.
Though all major automakers claim they believe the future of the industry is electric, KPMG says that “more than half (54%) of global auto executives say they believe these vehicles will fail commercially due to infrastructure challenges while 60 percent say excessive recharging times will do them in.”
According to the survey, which questioned nearly 1,000 executives (including 90 in the United States), more than three-quarters of executives think that fuel cell hydrogen vehicles will be the future.
Gary Silberg, Automotive Sector leader at KPMG LLP, proposes that most current investments in EVs by major automakers are simply to act in accordance with efficiency standards:
“There is no question that automakers are adapting to stricter vehicle efficiency standards around the world, and electrification is a big part of that equation even as manufacturers continue to squeeze MPG out of internal combustion engines. What’s unclear is the value proposition for consumers, especially on vehicles outside of the high-end, premium market. Given the multi-billion dollar investments (especially in China), the complex global regulatory environment and rapid technological disruption, there will be clear winners and losers in this EV game.”
As for the current position of the EV market in the industry, global executives see BMW (21%) and Tesla (14%) as the leaders, while Americans see Tesla as No.1 at 20% and BMW second at 15%.