We read it everywhere, from remarks by Elon Musk to predictions by industry observers — the tipping point between cars with gas tanks and those with batteries is already upon us, now that the Tesla Model 3 is here. From this point forward, electric cars will rapidly replace their gas guzzling siblings. Several nations such as India and Germany are talking about banning cars with internal combustion engines within 15 years.
“Bollocks,” say executives at several of the largest suppliers to the auto industry. “There’s a lot of buzz and a lot of talk about how the world’s going to change to electrified vehicles overnight, and I’m here to tell you it’s not going to happen overnight, and it’s not going to happen for decades,” David Dauch, CEO of American Axle & Manufacturing Holdings told those attending a conference sponsored by JPMorgan in New York last week. “I’m a strong believer in the internal combustion engine. I think it’s going to continue to be here for some time.”