Despite projected growth, electric and hybrid powertrains currently represent only a small niche market for automakers and the specialty-equipment industry.
Sales of alternative power vehicles, while currently representing just 5% of all U.S. light vehicle sales today, are expected to reach 45% by 2035, according to new SEMA market research.
Eighteen of the top 20 global automakers, which together represent around 90% of new car registrations worldwide in 2020, plan to widen their portfolio of alternative power models and scale up their production of electric vehicles. However, three-quarters of Americans still prefer gas or diesel and have concerns about charging
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