Comment on Automakers will find themselves in a 'big trap' if the transition toward EVs slows down, Stellantis CEO says

Automakers will find themselves in a 'big trap' if the transition toward EVs slows down, Stellantis CEO says

Stellantis CEO Carlos Tavares said a slower transition toward electric vehicles would hurt automakers.AFP via Getty ImagesStellantis CEO Carlos Tavares says automakers will have a tough time if the EV transition slows.This is because automakers will have to invest in both EVs and combustion-engine vehicles, he said."Making a transition for EVs longer is a big trap," Tavares said.Automakers will find themselves in a "big trap" if the industry's transition toward electric vehicles slows down, Stellantis CEO Carlos Tavares said on Monday.Tavares was speaking to the Financial Times on the sidelines of the Paris Motor Show when he weighed in on the EV transition."Making a transition for EVs longer is a big trap," Tavares said.This is because automakers will have to wrestle with higher costs as they have to invest in both electric and combustion-engine vehicles, Tavares told the Financial Times."When you make a longer transition, in fact, you don't replace the old world by the new one.

 

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