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Hybrid vehicles are going by the wayside, at least for two of the worlds leading auto manufacturers.
Both GM and Volkswagen are shelving hybrids in favor of going fully electric, according to a report in the Wall Street Journal.
Volkswagen CEO Scott Keogh told the Journal that the writing on the wall is that of tougher emissions standards, which will eventually force fully electric lines.
“Our strong preference is to go all-in where the market is heading, as opposed to hybrids as a way to hedge our bets,” he said.
GM ended its run with the hybrid branding of its Volt in February of this year.
The Volt came out in 2010 with the promise of going 38 miles on electricity before its gasoline would take over. The car did not receive the interest from consumers that the company anticipated which fewer than 20,000 sold per year.
“While it was a financial loser, it did what was intended,” retired GM Vice Chairman Bob Lutz told FoxBusiness.com. “We viewed it as a stepping stone to full electrics, which were totally out of reach due to the then-astronomical cost of lithium-ion batteries.”
The Volt has been replaced by the Bolt, which is averaging 238 miles before a recharge is needed.
Volkswagen is following up on its commitment to fully electric vehicles.
Herbert Diess, the CEO of Volkswagen, said that the company would spend over $800 million to expand its factory in Chattanooga, TN which will be central to another all-electric model and create over 1,000 jobs.
Ford and Toyota, on the other hand, will continue to manufacture its hybrid models.
The Ford-150 is set to release as a hybrid — you can watch it tow 1-millon pounds — while the Prius remains among the more popular models on the road.
“We can’t say to the customer, ’You have to take an all-electric vehicle,’” Ford engineer David Filipe told the Journal.