DETROIT — Hybrid gasoline-electric vehicles may not be dying as fast as some predicted in the auto sector’s rush to develop all-electric models.
Ford Motor Co. is the latest of several top automakers, including Toyota Motor Corp. and Chrysler parent Stellantis, planning to build and sell hundreds of thousands of hybrid vehicles in the U.S. over the next five years, industry forecasters told Reuters.
The companies are pitching hybrids as an alternative for retail and commercial customers who are seeking more sustainable transportation, but may not be ready to make the leap to a full electric vehicle.
"Hybrids really serve a lot of America," said Tim Ghriskey, senior portfolio strategist at New York-based investment manager Ingalls & Snyder. "Hybrid is a great alternative to a pure electric vehicle (and) it's an easier sell to a lot of customers."