EVs to lift off in 2025 — Continental

A major shift to electric cars won’t take until 2025 according to automotive components giant Continental AG, writes Brian Byrne.

Outlining its Strategy 2020 programme, the company says a continuing reduction in battery prices for EVs will have kicked in by then, and it expects around a third of all cars sold will be electrically powered. That penetration is likely to rise to 60pc just five years later.

Continental announced yesterday that it is increasing its spend on electric drive units development by €300m but will maintain its current level of commitment to internal combustion powertrain systems until at least 2025.

A decline in interest in diesel cars is becoming more evident in Europe since the 2015 Volkswagen emissions scandal, which will impact on Continental’s Powertrain Division, though not significantly across the whole company’s financial performance.

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