Nearly 7 of 10 consumers think next vehicle will have ICE powertrain

According to a recent global study by Deloitte, internal combustion engine powertrains dominate future U.S. intentions, with 69% of U.S. consumers looking to retain the technology for their next vehicle. Despite a growing interest in sustainability globally, more than half (53%) of U.S. consumers are unwilling to pay more than $500 for alternative engine solutions, Deloitte says.

Deloitte’s report, “2022 Global Automotive Consumer Study,” explores a variety of issues impacting the global automotive sector, including the development of advanced technologies, sustainability, cost expectations on new vehicles, virtual purchasing experiences and mobility services. The report is based on a survey of more than 26,000 consumers from 25 countries conducted between September and October 2021.

Virtual sales continue to show promise for their convenience and ease of use; however, 75% of U.S. consumers would prefer an in-person experience for their next vehicle purchase, Deloitte says. Shared mobility services like ride-hailing and car sharing have been slow to return to pre-pandemic levels; 76% of Americans prefer their personal vehicles to other modes of transportation.

BorgWarner has agreed to acquire the electric vehicle solution, smart grid and smart energy businesses of Hubei Surpass Sun Electric (SSE). The transaction has an enterprise value of up to RMB 410 million (approx. $59.36 million).

Headquartered in Xiangyang, Hubei province, China, SSE’s electrification business supplies patented electric vehicle charging solutions to customers in China and more than 70 other countries. SSE says it has delivered over 50,000 charging points and has led the engineering, procurement, and construction (EPC) of more than 250 charging station sites. SSE’s charging and electrification capabilities in China are expected to complement BorgWarner’s existing capabilities in Europe and North America, the companies say. SSE’s 2022 revenues for the electrification business are expected to be approximately RMB 180 million (approx. $26.06 million).