ANALYSIS-China, Europe drive shift to electric cars as U.S. lags

Publication: Reuters,

Electric cars will pick up critical momentum in 2017, many in the auto industry believe – just not in North America. Tighter emissions rules in China and Europe leave global carmakers and some consumers with little choice but to embrace plug-in vehicles, fuelling an investment surge, said industry executives gathered in Detroit this past week for the city’s annual auto show. “Car electrification is an irreversible trend,” said Jacques Aschenbroich, chief executive of auto supplier Valeo, which has expanded sales by 50 percent in five years with a focus on electric, hybrid, connected and self-driving cars.

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