Survey results from auto executives throughout the industry are showing that most car makers are focusing their efforts on refining the internal combustion engine, rather than developing electric vehicles.
Recently released results from an annual survey conducted by US audit, tax, and advisory company KPMG are showing that for many of the world’s largest auto makers, gasoline and diesel powered internal combustion engines, rather than electric motors, are the technologies worth investing into for the foreseeable future. Despite tripling in sales over the last year, electric vehicles are slated to maintain a minimal 15% share of the global car market for at least the next 12 years, prompting car makers to keep their focus on the traditional engines of today.
Of the executives questioned in the survey, 75% believed that investing into improvements for the internal combustion engine would offer greater efficiency and carbon dioxide reduction than electric vehicles for at least the next decade. More than a quarter also confirmed that their companies would be investing heavily into these improvements over the next several years, such as Ford and their EcoBoost engine, which has found its way into almost every model in their lineup. Though the prospects for the electric motor remain promising into the future, in its current form the internal combustion engine offers a much more plausible platform for improvement.
"When you look at current MPG estimates for new cars, it's very evident that automakers are continuing to significantly improve engine efficiency," says Gary Silberg, KPMG’s National Automotive Industry leader. "What's clear is that the internal combustion engine is not going anywhere soon." With a deliberate focus on improving fuel economy and efficiency, car makers have begun designing gasoline and diesel powered engines that use less fuel and emit a fraction of the pollutants into the atmosphere that their predecessors did, and with continued investments, further improvements can be made.
Executives also noted a willingness to invest into their manufacturing plants, citing areas of potential growth in the production process. 64% of those surveyed said that their companies would be increasing investments into new plants during the next five years, up from just 55% from the year before. Along with improvements to the engines themselves, an improved method of production could also create noticeable benefits. In a number of global markets, including the US, many plants are already running at 100 percent capacity, meaning an additional investment would require an expansion of the facilities themselves.
When combined with the kinds of accident avoidance technologies already being implemented today, these fuel-efficient and environmentally friendly internal combustion engines can deliver a safer and more reliable option than their electric alternatives. Until battery driven vehicles can demonstrate greater range and safety for occupants on board, the more practical investment will be towards the development of the kinds of engines already in service today. As a final question in the survey, each executive was also asked which companies they believed would control the most market share over the next five years. Volkswagen, Hyundai, and BMW were the favorites, each hard at work developing smaller and more efficient internal combustion engines, rather than putting their weight behind electric power.
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