Ford Canada chief executive officer, David Mondragon, told a group of people attending a business luncheon at a Toronto-area hotel that electric vehicles (EVs) will account for the slimmest fraction of the market by 2020. Mondragon explains that consumers may opt for more fuel-efficient cars if gas prices creep up, but, he said, buyers will not embrace EVs unless either a dramatic shift in behavior occurs, or prices of battery-powered vehicles drop substantially.

Of course, many automakers, including Ford, will release battery-powered vehicles within the next few years. But, unlike some automakers, Ford is eying the niche market and intends for its electrified vehicles to count for just a small number of total sales. Instead, Ford will concentrate most of its efforts on vehicles powered solely by internal combustion engines, which Mondragon believes will account for 75 percent of global demand in 2020, and hybrids, which he predicts will capture almost all of remaining 25 percent. When will EVs bust onto the scene? Mondragon believes, as do others, that oil/gas prices would have to double from the levels that we regularly encounter today for EVs to make their big splash. Hat tip to evsuperhero!

[Source: CBC News]

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