Over half of all car executives (53 per cent) expect that hybrid technology will be the technology which attracts the most investment from the automotive industry over the next five years, according to a new study by KPMG.
Despite a believe that hybrid technology will be the fuel-saving tech of choice, a staggering 61 per cent of execs say that optimising the good old-fashioned internal combustion technology will offer greatest potential for maximising efficiency and C02 reductions.
Global research firm KPMG interviewed over 200 automotive executives from around the world to form its 13th Global Automotive Executive Survey. The firm’s research also revealed that 90 per cent of global manufacturing executives intend to increase their investment over the next five years in new products; with 83 per cent expecting to increase investment in e-motor production and 81 per cent in battery technology and 77 per cent in connected in-car software.
Despite this investment in electric car technology, two-thirds of executives don’t expect electric vehicles to exceed 15 per cent of annual global sales within the next 15 years.
What’s more, over a third (34 per cent) of car executives expect that consumers’ purchasing decisions over the next five years will be increasingly driven by whether the car they purchase has internet connectivity and built-in technologies such as navigation with live traffic update, voice recognition and access to smartphones through steering wheel controls and the dashboard. The importance of such features is almost on par with car safety (37 per cent) and environmental friendliness (40 per cent).
