Reuters: 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. by Laurence Frost
'"Car electrification is an irreversible trend," said Jacques Aschenbroich, chief executive of auto supplier Valeo (VLOF.PA), which has expanded sales by 50 percent in five years with a focus on electric, hybrid, connected and self-driving cars.
'In Europe, green cars benefit increasingly from subsidies, tax breaks and other perks, while combustion engines face mounting penalties including driving and parking restrictions.
'China, struggling with catastrophic pollution levels in major cities, is aggressively pushing plug-in vehicles. Its carrot-and-stick approach combines tens of billions in investment and research funding with subsidies, and regulations designed to discourage driving fossil-fueled cars in big cities.'