Engine Parts Suppliers Facing Uncertain Future With Switchover To EVs | Carscoops carscoops
. Since battery-powered cars are yet to meet their full sales potential, suppliers are in a situation where they need to invest heavily in new equipment to cater to EV manufacturing while at the same time seeing their current income decline due to slowing conventional vehicle sales.
Now the focus has turned to EVs, and many EU countries are considering completely banning combustion engines by 2035. Evtec managed to survive because it was taken over by an investor group led by David Roberts, who felt it was a “no brainer to invest in that business” because the company’s ability to manufacture complex aluminum components will almost certainly attract business from manufacturers looking for EV parts.
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