Carmakers are telling their suppliers to switch focus from electric models to hybrid vehicles as they contend with “a marked slowdown” in battery car demand, according to the head of parts maker Dowlais.
The company, formerly the automotive division of GKN, specialises in making side-shafts that fit into both electric and engine-powered cars, giving it around six months of visibility of supply across all types of vehicles.
There are “big swings” away from electric vehicle orders to hybrid models, said Dowlais’s chief executive Liam Butterworth on Thursday, forecasting that carmakers would be forced to cut EV prices later in the year.
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