Your #1 source for auto industry news and content

VW CEO plants to introduce more plug-in hybrids as EV demand hits ‘plateau’

"Within the last six months, all of a sudden, everyone wants hybrids."

At the London Financial Times Future of the Car conference, Volkswagen (VW) CEO Thomas Schafer announced plans to introduce more plug-in hybrids alongside their ID.4 electric crossover. This shift comes as the demand for all-electric vehicles has hit a plateau.  

Schafer noted a change in times, saying, “Within the last six months, all of a sudden, everyone wants hybrids.” This echoes similar comments from Nissan, Hyundai, and Toyota, which also want to expand their hybrid and plug-in hybrid offerings in the coming months.

Moreover, it makes sense for automakers to pursue hybrid and plug-in hybrid vehicles, at least initially, since both the U.S. and the EU have approved laws forcing automakers to reduce the tailpipe emissions of their light-duty cars.

Although consumers should witness a minor improvement in gas usage and regional air quality, VW’s CEO knows this is only a temporary solution. Nevertheless, it is still beneficial for consumers.

Schafer described the technology as a bridge. He acknowledged that this transitional technology is still necessary while battery-electric driving is already plateauing. However, he clarified that VW’s ultimate goal is to switch to fully electric vehicles, stating that he is “absolutely sure” of this. 

VW already offers hybrid versions of popular models like the Golf, Passat, and Tiguan in Europe, boasting a significant all-electric range. Schafer emphasized a focus on enhancing the electric range and reducing costs, indicating a strategic approach rather than a blanket rollout of hybrids across all regions and models.

Stay up to date on exclusive content from CBT News by following us on Facebook, Twitter, Instagram and LinkedIn.

Don’t miss out! Subscribe to our free newsletter to receive all the latest news, insight and trends impacting the automotive industry.

CBT News is part of the JBF Business Media family.

Jaelyn Campbell
Jaelyn Campbell
Jaelyn Campbell is a staff writer/reporter for CBT News. She is a recent honors cum laude graduate with a BFA in Mass Media from Valdosta State University. Jaelyn is an enthusiastic creator with more than four years of experience in corporate communications, editing, broadcasting, and writing. Her articles in The Spectator, her hometown newspaper, changed how people perceive virtual reality. She connects her readers to the facts while providing them a voice to understand the challenges of being an entrepreneur in the digital world.

Related Articles

Latest Articles

From our Publishing Partners