Automakers reassess the EV path

CAR companies around the world have spent years promoting electric vehicles (EVs) as the next big thing in motoring. However, some major brands including Fiat, Ford, GM, Honda, Toyota, Volkswagen, and Volvo, are now downsizing or slowing down their EV plans. Instead, they are improving fuel-fed engines to make them more efficient and putting more resources into the development of hydrogen-powered cars. This change in strategy is causing questions about the future of electric vehicles, especially in countries like the Philippines, where people and the government have only recently shown a strong interest in EVs.

One reason carmakers are moving away from EVs is the high cost of materials needed to make batteries. Vital raw materials such as lithium and cobalt can be hard to acquire and often come with unstable prices, which can hurt a company's ability to build EVs at a reasonable price. By focusing on other types of powertrains, like hydrogen or cleaner fuel-fed engines, manufacturers can avoid depending too heavily on these expensive and sometimes hard-to-find materials.

Shifting focus to efficient internal combustion, hydrogen power, and impact of cheaper Chinese EVs