Consumers are divided between a world that’s switching to electric cars and another that’s clinging to gas.
David Fickling is a Bloomberg Opinion columnist covering energy and commodities. Previously, he worked for Bloomberg News, the Wall Street Journal and the Financial Times.
No turning back.
Photographer: SeongJoon Cho/BloombergThe world’s auto industry is accelerating in two directions at once. Unless those contradictions are resolved, carmakers risk running themselves off the road.
In China and Europe, the transition to electric vehicles is gathering pace. Battery-powered autos made up nearly a quarter of sales in both markets in August, according to Morgan Stanley, with plug-in hybrids lifting the total share to 38% and 28%, respectively.
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