Carmakers are making a fresh push into new hybrids and upgraded petrol engine cars as executives look to shore up profits amid the costly wait for electric vehicles to become mainstream.
General Motors, Porsche, BMW and Mercedes-Benz have pledged over the past few weeks to invest in new or upgraded internal combustion engine (ICE) and hybrid models even as they increase the rollout of electric cars to meet tougher emissions regulations in Europe and elsewhere.
Global new model launches of ICE and hybrid vehicles are expected to rise 9 per cent this year from 2024, according to S&P Global Mobility. Carmakers are expected to introduce 205 petrol models, down 4 per cent from 2024, while hybrid launches are predicted to rise 43 per cent to 116 models.