These and other EV and hybrid technologies are important because the future of electric and/or hybrid vehicles is real, it’s not just something we talk about or may see in the future. LMC Automotive forecasts that in 2025 there will be 428 battery EV models in the global market; in 2019, there were 144. Automakers and even countries are confirming a serious focus on these alternative powertrains – GM is looking to globally launch 20 EV models by 2023, and Norway has plans to prohibit the sales of petrol and gasoline vehicles by 2025.
We all face several challenges on the horizon, whether it’s from existing competitors, new entrants into the supply base or having the ability to supply these new technologies to an evolving automotive environment and consumer. However, ZF is well positioned with products, people and production locations to successfully meet these challenges head on.