Latest news with #ChevyVolt
Business Journals
24-07-2025
- Business
- Business Journals
New Wells Fargo program is fueling businesses on the brink of expansion
Yuta Katsuyama came to Chicago from Tokyo in 2018 to study at Illinois Tech's Institute of Design. When he arrived, he found foods like sushi and ramen throughout the city, but he couldn't find his favorite food from his homeland: rice balls called onigiri. In 2020, Katsuyama invited Cristina Tarriba to join him on a five-week business prototype project for school. They cooked in a shared kitchen, took pre-orders and delivered onigiris in his Chevy Volt — dubbed the 'Onigiri Shuttle'— across the city. After the project ended, the partners decided to become food entrepreneurs full-time and launched Onigiri Kororin inside food and beverage incubator The Hatchery. By the end of 2024, the business had grown to where its grab-and-go products were sold in more than 60 stores across Chicago. To satisfy increasing demand, the partners needed to expand operations. That was going to require a significant capital investment — one the business could not afford on its own. Instead, it found another way, through Wells Fargo's new $20 million Open for Business Growth program. The program had awarded a $2.5 million grant to the Chicago-based nonprofit Allies for Community Business (A4CB), which co-owns The Hatchery with the Industrial Council of Nearwest Chicago (ICNC). A4CB provided Onigiri Kororin with $210,000 in revenue-based financing, which allowed the business to expand to a larger kitchen at ICNC's Make City incubator and increase staffing. 'Our new kitchen is three times bigger, and we can have eight team members working at the same time, more than doubling our staffing capacity,' Katsuyama said. 'We want to continue to grow by introducing other types of products and eventually expand to other states across the U.S. The loan was transformative to allow us to take the next step.' Katsuyama's school-project-turned-business now has 25 employees. Creative capital makes expansion more accessible A4CB — which provides capital, coaching and connections for entrepreneurs — was the first grant recipient of the Wells Fargo Open for Business Growth program, which was created specifically to support small businesses on the brink of expansion. The challenge: Many of these businesses need more than a microloan but are not yet large enough for traditional financing, said Kimelyn Harris, Wells Fargo's head of small business philanthropy. expand 'When small businesses don't get the capital they need, they remain stagnant,' she said. 'Flexible capital is what's needed most.' The program gives nonprofit partners like A4CB the opportunity to develop products and services that empower small businesses looking to scale so more of them can achieve next-level growth. With its Open for Business Growth grant, A4CB will focus on growing the construction industry around Chicago and helping retail and restaurant businesses like Onigiri Kororin that have fluctuating revenue flow. The organization is piloting a new revenue-based financing model — the same one provided to Onigiri Kororin — and expanding access to its partnership with HIRE360, a specialized construction loan program that offers advisory services and mentoring. The Wells Fargo grant funding also supports free business coaching for A4CB's clients. 'We'll be able to expand our offerings to far more entrepreneurs because of Wells Fargo's support,' said Brad McConnell, CEO of A4CB, noting that this is 'creative capital' that doesn't dilute the entrepreneur's ownership. Flexible financing, he said, allows debt payments to better align with revenue as it fluctuates. A4CB estimates clients supported by the grant will generate as many as 260 local jobs as they execute larger contracts and create new opportunities. 'Supporting entrepreneurship is hard, expensive and risky,' McConnell said. 'We're really good at what we do, but we can't take on those risks and expenses on our own. Wells Fargo cares about the same things we care about: investing in communities so there is wealth building. This collaboration allows us to invest in entrepreneurs who are ready to create jobs and wealth in the community.' Building on a track record of small business support The Open for Business Growth program builds on the success of Wells Fargo's $420 million Open for Business Fund, which collaborated with community organizations during the pandemic. According to grantees, the fund has benefited roughly 336,000 small businesses and has enabled them to keep or maintain 461,000 jobs nationwide. The impact the new program is generating in Chicago is just the beginning. In the coming year, it will expand to other markets across the U.S. 'This program supports the businesses that are ready to scale, hire additional staff, build capacity and deepen their community impact,' Harris said. 'This funding empowers nonprofits to develop innovative products, solutions and services to help these businesses grow sustainably. These businesses play a vital role in creating jobs and sustaining the vibrancy of local communities. Our mission is to strengthen their ability to thrive for the long term.'
Yahoo
01-06-2025
- Automotive
- Yahoo
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. 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 This article was originally published on
NBC News
31-05-2025
- 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
31-05-2025
- 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
30-05-2025
- 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."
