VIENNA: The captains of Austria’s automotive industry need to stop making combustion engines now in order to salvage greener electric growth by the end of the decade, according to a new government study.
Dozens of suppliers churn out engines and parts for companies including BMW AG, Fiat Chrysler Automobiles NV and Volkswagen AG. “Many companies underestimate the urgency to switch,” researchers at Fraunhofer Austria wrote. “Companies are hesitant to make strategic decisions in the direction of electro-mobility and are thus faced with the risk of not mastering the changeover in time.”Austrian companies and consumers have been bombarded with mixed messages over the shift to electric vehicles.
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