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NBC News
2 days ago
- Automotive
- NBC News
As EVs stumble, automakers are bringing back a kind of hybrid that promises long range
Major automakers are set to resurrect a type of hybrid vehicle that seemed dead in the U.S. just a few years ago to meet a changing consumer demand landscape. Extended-range electric vehicles (EREVs) are a form of plug-in hybrid that falls midway between traditional hybrids and full EVs. EREV cars and trucks rely on battery powered motors for propulsion (like an EV) but also have a relatively small gas engine to use as a generator to keep the batteries charged up (like a typical hybrid). A key difference between EREVs and other hybrids is the relative size of their batteries and gas engines. Mainstream hybrids and plug-in hybrids (PHEVs) like the Toyota Prius still rely on combustion engines as their main means of propulsion. Thus, they have proportionately smaller batteries, but substantial gas engines that are directly connected to their drivetrains to help move the car. EREVs are much more focused on the electric side of the equation, so they tend to have bigger batteries than other hybrids, but comparatively small gas engines that solely function as generators to top off the batteries when examples of this type of vehicle — the Chevy Volt and Fisker Karma — were introduced to the U.S market in 2011. These were followed by the BMW i3 and Cadillac ELR in 2014. But EREVs (also known as Range Extended Electric Vehicles, or REEVs), never attracted much interest from American consumers. The Volt was the most popular EREV by far, with GM selling 157,000 over nine years, until it ended production in 2019. That may seem impressive, but it's a blip in the overall U.S. new vehicle market, which saw about 16 million sales each year in that timeframe. The last EREV sold domestically was the i3, which BMW discontinued in 2022. While there are no new EREVs for sale in the U.S., several are in the pipeline. This includes an upcoming version of the Ram 1500 pickup truck, set to come to market in early 2026. A Ram spokesman noted that it will have the longest driving range the company has ever offered in a light-duty truck, up to 690 total miles between its gas engine and battery power. An EREV version of the Jeep Grand Wagoneer is also under development, according to the company. Volkswagen is planning to begin production of an EREV pickup truck and SUV under the Scout brand name starting in 2027. Hyundai Motors plans to introduce EREV versions of its mid-sized SUVs by the end of 2026, according to a spokesman. The vehicles are expected to have more than 560 miles of range, and be sold under the Hyundai and Genesis brands. In addition, a Nissan spokesman confirmed that the company is considering offering EREV options in its mid-size and larger SUVs. 'They do offer advantages versus 100% EVs when it comes to hauling and towing,' he said, 'allowing greater driving range without the need for a large capacity battery, as well as faster refueling.' James Martin, the director of consulting services at S&P Global Mobility, says one reason manufacturers are turning to EREVs is lower production costs. EREV use of smaller and less expensive batteries than full EVs allows manufacturers to keep their expenses down. EREVs are also less complex than plug-in hybrids, Martin said. PHEVs have two functioning propulsion systems and sophisticated controls to allow them to communicate with each other. Most EREVs, by contrast, are solely propelled by their electric motors. Range anxiety, and cost, still big factors in EV adoption But one of the biggest advantages of EREVs is range. In China, where EREVs are gaining in popularity, the manufacturer BYD offers mid-sized sedans with more than 1,300 miles of claimed range. EREVs also alleviate range anxiety due to the ubiquity of gas stations. Consumers can just fill up with gasoline to charge the battery if a charging port is unavailable. The new EREVs can travel more than 100 miles on batteries alone, then hundreds more using gasoline. 'Range anxiety is still a factor when it comes to choosing an electric vehicle over an internal combustion vehicle,' said K. Venkatesh Prasad, senior vice president of research and chief innovation officer at the Center for Automotive Research. 'EREVs, allay the range anxiety concern,' he said. These hybrids may especially appeal to consumers who frequently travel long distances, and getting more consumers used to plugging in their vehicles might also appeal to manufacturers. 'The actual charging experience of EREVs is very similar to that of BEVs,' Prasad said. 'So, the market adoption of EREVs is likely to be seen as a good ramp to future BEV purchase considerations,' he added. Charging infrastructure is still lagging in many areas of the U.S., according to executive analyst Karl Brauer, which can make a full EV impractical for consumers. EREVs avoid that issue and may also be attractive to consumers who live in apartments or houses that lack charging stations. A recent report from McKinsey noted that EREVs could also combat cost concerns among consumers, noting that the smaller batteries can shave off as much as $6,000 in powertrain production costs, compared to BEVs. Another factor, according to McKinsey, is that both domestic and European manufacturers have seen how EREVs have gained sales momentum in China, a sign the technology may help to increase electrification adoption in their own marketplaces. 'We expect all levels of hybridization to increase production in North America throughout the decade,' said Eric Anderson, the associate director of Americas light vehicle powertrain forecasting for S&P Global Mobility. Hybrids, including EREVs, are a 'relatively affordable way for consumers to move up the electrification ladder without a significant monthly payment increase, he said. While the EV vehicle market continued to grow last year, the pace of growth has slowed considerably. 'The BEV market is in the process of shifting from early adopters to a more price-conscious buyer,' Anderson said. Domestic sales of hybrids grew from 1,175,456 in 2023 to 1,609,035 in 2024, according to the U.S. Department of Transportation, a 37% increase. Plug-in hybrids grew 10% in the same period — from 293,578 to 321,774. By comparison, fully electric EVs saw 7% growth, from 1,164,638 to 1,247,656. While overall sales of traditional internal combustion engine (ICE) vehicles continues to dominate, its market share has fallen every year since 2015, according to Edmunds. Last year, ICE vehicle sales fell to 80.8% of total U.S. sales, down from 84% in 2023. Another attribute that might make EREVs popular with consumers is resale value. Hybrids — which includes EREVs and more common plug-in hybrids — depreciate less than EVs or traditional gas vehicles. Since depreciation is the most expensive part of car ownership, finding a vehicle that better retains its value can provide consumers with significant savings. By contrast, electric cars and trucks lose value faster than any other vehicle type — dropping by 58.8% after five years, compared to the overall vehicle depreciation average of 45.6% and only 40.7% for hybrids, according to research from iSeeCars. 'Electric vehicle sales have been slowing on both the new and used market, with EVs sitting on dealer lots longer despite falling prices,' Brauer said. 'Consumers are showing increasing appreciation for hybrid vehicles, creating a friendly environment for automakers to introduce more plug-in hybrids as an intermediate step toward full electric vehicles.' Ram 1500 extended range hybrid pickup, set to come to market in early 2026, will have the longest driving range the company has ever offered in a light-duty truck, up to 690 total miles between its gas engine and battery | Stellantis
Business Insider
2 days ago
- Automotive
- Business Insider
Here's Why Automakers Are Reviving Extended-Range EVs despite Initially Flopping
Major automakers are bringing back a type of hybrid vehicle that had mostly disappeared from the U.S. a few years ago. Known as extended-range electric vehicles (EREVs), these plug-in hybrids work mainly like electric vehicles (EVs) by using a battery-powered motor to drive. However, they also have a small gas engine that acts like a generator to recharge the battery when needed, which is different from regular hybrids, where the gas engine helps power the car directly. As a result, EREVs have bigger batteries and smaller gas engines that focus more on electric driving with gas as a backup. Confident Investing Starts Here: Interestingly, it is worth noting that earlier models, such as the Chevy Volt (GM) and BMW i3 (BAMXF), never sold well, and EREVs have mostly vanished after 2022. Nevertheless, Ram (STLA) is planning an EREV pickup truck in 2026 that can go up to 690 miles using both gas and electric power. Volkswagen (VWAGY), Jeep, and Nissan (NSANY) are also working on their own EREV models. These vehicles are useful for people who drive long distances or live in places without easy access to charging, which helps reduce range anxiety while keeping costs lower than full EVs. In fact, EREVs are cheaper to make than full EVs because they use smaller batteries and are less complex than regular plug-in hybrids. They also hold their value better than gas cars or full EVs, which lose most of their resale value within five years. In addition, sales of hybrids and plug-in hybrids are growing faster than fully electric cars, especially as more buyers focus on price and practicality. Therefore, EREVs may help more drivers transition to electric vehicles while avoiding issues like limited charging infrastructure or high upfront costs. Which Auto Stock Is the Better Buy? Turning to Wall Street, out of the stocks mentioned above, analysts think that STLA stock has the most room to run. In fact, STLA's average price target of $10.98 per share implies more than 8% upside potential. On the other hand, analysts expect the least from BAMXF stock, as its average price target of $92.82 equates to a gain of 5%.
CNBC
3 days ago
- Automotive
- CNBC
As EVs stumble, automakers are bringing back a kind of hybrid that promises long range
Major automakers are set to resurrect a type of hybrid vehicle that seemed dead in the U.S. just a few years ago to meet a changing consumer demand electric vehicles (EREVs) are a form of plug-in hybrid that falls midway between traditional hybrids and full EVs. EREV cars and trucks rely on battery powered motors for propulsion (like an EV) but also have a relatively small gas engine to use as a generator to keep the batteries charged up (like a typical hybrid). A key difference between EREVs and other hybrids is the relative size of their batteries and gas engines. Mainstream hybrids and plug-in hybrids (PHEVs) like the Toyota Prius still rely on combustion engines as their main means of propulsion. Thus, they have proportionately smaller batteries, but substantial gas engines that are directly connected to their drivetrains to help move the car. EREVs are much more focused on the electric side of the equation, so they tend to have bigger batteries than other hybrids, but comparatively small gas engines that solely function as generators to top off the batteries when examples of this type of vehicle – the Chevy Volt and Fisker Karma – were introduced to the U.S market in 2011. These were followed by the BMW i3 and Cadillac ELR in 2014. But EREVs (also known as Range Extended Electric Vehicles, or REEVs), never attracted much interest from American consumers. The Volt was the most popular EREV by far, with GM selling 157,000 over nine years, until it ended production in 2019. That may seem impressive, but it's a blip in the overall U.S. new vehicle market, which saw about 16 million sales each year in that timeframe. The last EREV sold domestically was the i3, which BMW discontinued in 2022. While there are no new EREVs for sale in the U.S., several are in the pipeline. This includes an upcoming version of the Ram 1500 pickup truck, set to come to market in early 2026. A Ram spokesman noted that it will have the longest driving range the company has ever offered in a light-duty truck, up to 690 total miles between its gas engine and battery power. An EREV version of the Jeep Grand Wagoneer is also under development, according to the company. Volkswagen is planning to begin production of an EREV pickup truck and SUV under the Scout brand name starting in 2027. Hyundai Motors plans to introduce EREV versions of its mid-sized SUVs by the end of 2026, according to a spokesman. The vehicles are expected to have more than 560 miles of range, and be sold under the Hyundai and Genesis brands. In addition, a Nissan spokesman confirmed that the company is considering offering EREV options in its mid-size and larger SUVs. "They do offer advantages versus 100% EVs when it comes to hauling and towing," he said, "allowing greater driving range without the need for a large capacity battery, as well as faster refueling." James Martin, the director of consulting services at S&P Global Mobility, says one reason manufacturers are turning to EREVs is lower production costs. EREV use of smaller and less expensive batteries than full EVs allows manufacturers to keep their expenses down. EREVs are also less complex than plug-in hybrids, Martin said. PHEVs have two functioning propulsion systems and sophisticated controls to allow them to communicate with each other. Most EREVs, by contrast, are solely propelled by their electric motors. But one of the biggest advantages of EREVs is range. In China, where EREVs are gaining in popularity, the manufacturer BYD offers mid-sized sedans with more than 1,300 miles of claimed range. EREVs also alleviate range anxiety due to the ubiquity of gas stations. Consumers can just fill up with gasoline to charge the battery if a charging port is unavailable. The new EREVs can travel more than 100 miles on batteries alone, then hundreds more using gasoline. "Range anxiety is still a factor when it comes to choosing an electric vehicle over an internal combustion vehicle," said K. Venkatesh Prasad, senior vice president of research and chief innovation officer at the Center for Automotive Research. "EREVs, allay the range anxiety concern," he said. These hybrids may especially appeal to consumers who frequently travel long distances, and getting more consumers used to plugging in their vehicles might also appeal to manufacturers. "The actual charging experience of EREVs is very similar to that of BEVs," Prasad said. "So, the market adoption of EREVs is likely to be seen as a good ramp to future BEV purchase considerations," he added. Charging infrastructure is still lagging in many areas of the U.S., according to executive analyst Karl Brauer, which can make a full EV impractical for consumers. EREVs avoid that issue and may also be attractive to consumers who live in apartments or houses that lack charging stations. A recent report from McKinsey noted that EREVs could also combat cost concerns among consumers, noting that the smaller batteries can shave off as much as $6,000 in powertrain production costs, compared to BEVs. Another factor, according to McKinsey, is that both domestic and European manufacturers have seen how EREVs have gained sales momentum in China, a sign the technology may help to increase electrification adoption in their own marketplaces. "We expect all levels of hybridization to increase production in North America throughout the decade," said Eric Anderson, the associate director of Americas light vehicle powertrain forecasting for S&P Global Mobility. Hybrids, including EREVs, are a "relatively affordable way for consumers to move up the electrification ladder without a significant monthly payment increase, he said. While the EV vehicle market continued to grow last year, the pace of growth has slowed considerably. "The BEV market is in the process of shifting from early adopters to a more price-conscious buyer," Anderson said. Domestic sales of hybrids grew from 1,175,456 in 2023 to 1,609,035 in 2024, according to the U.S. Department of Transportation, a 37% increase. Plug-in hybrids grew 10% in the same period — from 293,578 to 321,774. By comparison, fully electric EVs saw 7% growth, from 1,164,638 to 1,247,656. While overall sales of traditional internal combustion engine (ICE) vehicles continues to dominate, its market share has fallen every year since 2015, according to Edmunds. Last year, ICE vehicle sales fell to 80.8% of total U.S. sales, down from 84% in 2023. Another attribute that might make EREVs popular with consumers is resale value. Hybrids - which includes EREVs and more common plug-in hybrids - depreciate less than EVs or traditional gas vehicles. Since depreciation is the most expensive part of car ownership, finding a vehicle that better retains its value can provide consumers with significant savings. By contrast, electric cars and trucks lose value faster than any other vehicle type – dropping by 58.8% after five years, compared to the overall vehicle depreciation average of 45.6% and only 40.7% for hybrids, according to research from iSeeCars. "Electric vehicle sales have been slowing on both the new and used market, with EVs sitting on dealer lots longer despite falling prices," Brauer said. "Consumers are showing increasing appreciation for hybrid vehicles, creating a friendly environment for automakers to introduce more plug-in hybrids as an intermediate step toward full electric vehicles."
Yahoo
21-05-2025
- Automotive
- Yahoo
$51.38 Bn Automotive Carbon Fiber Market Outlook, 2030 - Carbon Fiber Gains Momentum Amid EV and Sustainability Push
The automotive industry has long been at the forefront of innovation, striving to meet the demands of performance, safety, and environmental sustainability. In recent years, one of the most transformative materials in the industry has been carbon fiber. Carbon fiber, known for its lightweight and high-strength properties, is revolutionizing the automotive sector by offering improved fuel efficiency, enhanced performance, and a significant reduction in vehicle weight. This material, once reserved for aerospace and high-performance sports cars, has gradually found its way into mainstream vehicles, marking a significant shift in how automobiles are designed and manufactured. Automotive Carbon Fiber Market Dublin, May 14, 2025 (GLOBE NEWSWIRE) -- The "Automotive Carbon Fiber Market Outlook, 2030" report has been added to offering. Global market is projected to reach market size of USD 51.38 Billion by 2030 increasing from USD 30.11 in 2024, growing with 9.52% CAGR by 2025-2030 The future of carbon fiber in the automotive industry appears bright, with continued growth expected in both the use of carbon fiber composites and the adoption of electric vehicles. The need for lightweight materials to improve fuel efficiency, reduce emissions, and increase vehicle performance will only increase as global environmental regulations become more stringent. Automakers are also exploring the integration of carbon fiber into new vehicle designs, including autonomous vehicles and smart cars. Over the past decade, carbon fiber has gradually moved beyond niche applications into mass-market vehicles. As global regulations on fuel efficiency and emissions have become stricter, automakers have been under increasing pressure to develop lightweight, fuel-efficient cars. Carbon fiber plays a crucial role in achieving these goals, and its use is expected to grow rapidly as manufacturers continue to explore ways to meet regulatory standards while enhancing vehicle performance. One of the most notable developments in the automotive carbon fiber industry is the adoption of carbon fiber-reinforced polymers (CFRP).CFRP is a composite material made by combining carbon fibers with a polymer resin, resulting in a strong, lightweight, and versatile material that is easier to manufacture and more cost-effective than pure carbon fiber. This has made carbon fiber more accessible to mass-market vehicles, where cost constraints are more critical. For example, the BMW i3 and i8 are among the first mass-produced electric vehicles (EVs) to feature extensive use of carbon fiber, particularly in the car's passenger cell and body structure. The success of these models has demonstrated the feasibility of using carbon fiber in high-volume production, paving the way for other automakers to incorporate the material into their these vehicles become more complex, requiring lightweight yet durable materials to support advanced sensors, batteries, and other electronic systems, carbon fiber's role in automotive design will continue to evolve. Additionally, as the market for electric and hybrid vehicles expands, carbon fiber will play an even more critical role in meeting the specific demands of EV design, including energy efficiency and battery performance. The automotive carbon fiber industry is also poised to benefit from collaborations and partnerships between automakers, carbon fiber manufacturers, and technology collaborations will likely accelerate the development of new materials, production techniques, and recycling methods, further driving innovation and reducing costs. Additionally, the use of carbon fiber in EVs is particularly significant because lighter vehicles require less energy to operate, directly contributing to improved battery life and range - two critical factors for the success of electric vehicles in the market. Key Attributes: Report Attribute Details No. of Pages 195 Forecast Period 2024 - 2030 Estimated Market Value (USD) in 2024 $30.11 Billion Forecasted Market Value (USD) by 2030 $51.38 Billion Compound Annual Growth Rate 9.5% Regions Covered Global Market Drivers Electric Vehicle (EV) Adoption and Lightweighting Demand: The rapid global shift toward electric vehicles is a key driver for carbon fiber use. EVs benefit immensely from lightweight materials since reducing vehicle mass directly improves battery range and energy efficiency. Carbon fiber, with its high strength-to-weight ratio, is ideal for EV chassis, body panels, and structural components. Stringent Emission Regulations and Fuel Efficiency Standards: Governments worldwide are tightening fuel economy and emission regulations. Automakers are under pressure to reduce the environmental footprint of vehicles, making lightweight materials like carbon fiber critical for compliance. This is especially true in Europe, China, and North America, where regulatory frameworks are aggressively pushing for greener mobility solutions. Market Challenges High Production Costs and Limited Scalability: Carbon fiber is significantly more expensive than traditional materials like steel or aluminum, due to complex manufacturing processes and high raw material costs. This makes it difficult for widespread use in cost-sensitive, mass-market vehicles, limiting its penetration to premium or performance-oriented segments. Recycling and End-of-Life Management: Unlike metals, carbon fiber is harder to recycle efficiently. Current methods of reclaiming carbon fiber are either too costly or degrade the quality of the material. With increasing emphasis on circular economy practices and sustainability, the lack of robust recycling infrastructure poses a major hurdle. Market Trends Hybrid Material Development (e.g., CFRP with Metal or Thermoplastics) : To strike a balance between performance and cost, manufacturers are developing hybrid structures combining carbon fiber with metals or thermoplastics. This allows for tailored material performance while reducing the overall cost of production and simplifying repair processes. Automation and Mass Production Techniques: The industry is witnessing innovation in automated carbon fiber layup and molding processes like high-pressure resin transfer molding (HP-RTM). These advances are making it more feasible to integrate carbon fiber components into higher-volume vehicle production lines, particularly in mid-range electric and hybrid vehicles. Considered in this report: Historic Year: 2019 Base year: 2024 Estimated year: 2025 Forecast year: 2030 Aspects covered in this report: Automotive Carbon Fiber Market with its value and forecast along with its segments Various drivers and challenges On-going trends and developments Top profiled companies Strategic recommendation Companies mentioned Toray Industries Inc. Teijin Limited Mitsubishi Chemical Corporation. BASF SE Solvay SA Dow Inc. Saudi Basic Industries Corporation Nippon Steel Corporation 3M Saudi Aramco Gurit Holdings AG Carbon Revolution PLC Hexcel Corporation SGL Carbon SE BFG International Group Quickstep Holdings Limited DowAksa Advanced Composites Holdings BV Bcomp Ltd Polynt Group S.A R.L. By Material: Polyacrylonitrile (PAN) Pitch By Application: Structural Assembly Powertrain Components Interior and Exterior By Sales Channel: OEM Aftermarket For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Automotive Carbon Fiber Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Hindustan Times
05-05-2025
- Automotive
- Hindustan Times
BMW's electric 2 Series will come as a sedan, not a coupe. Will it come to India?
BMW i2 is expected to launch by 2030. BMW i2 is expected to launch by 2030 and it will replace the 2 Series coupe. BMW's Neues Klasse architecture, which has been designed and developed exclusively for electric cars, will underpin a range of new products. The BMW iX3 based on this platform, is slated to debut soon, followed by the BMW i3 sometime shortly after. The German luxury carmaker is also working on an i2, which will be different compared to the current 2 Series lineup. It is expected to come as a four-door sedan with an electric propulsion system. BMWBlog has reported that the upcoming BMW i2 electric sedan will serve as an entry-level model for the brand's EV portfolio. The report also states that the upcoming i2 will prioritise spaciousness and usability. Currently, the auto giant offers three versions of the BMW 2 Series - coupe or convertible, active tourer and gran coupe. Hence, spawning a new body style will be a major change. The report also claims that the electric i2 won't go on sale until 2030. Also Read : Upcoming cars in India The new BMW i2 claims to replace the fossil fuel-propelled 2 Series coupe. BMW has no plan to launch a successor to the car with an internal combustion engine. This could spell the end of the highly popular BMW M2 performance car. The BMW i2 claims to come with a rear-wheel or all-wheel drive setup, which means it will appeal to the fun-loving driving enthusiasts. When the BMW i2 goes on sale, it will come powered by the car manufacturer's sixth-generation battery technology. The new battery packs use cylindrical-shaped cells, which the OEM claims can increase range and charging speed by up to 30 per cent compared to the current models. Also, these cylindrical-shaped battery cells claim to generate fewer emissions during manufacturing. BMW has not revealed anything officially so far about the launch timeframe of the electric i2. Also, the carmaker has not revealed anything about the possibility of the car's India launch. However, we can expect it to be rolled out in the Indian market, which is one of the fastest-growing electric car markets globally. Check out Upcoming Cars in India 2024, Best SUVs in India. First Published Date: 05 May 2025, 06:31 AM IST
