The latest sign of a world gone mad for battery-powered cars comes a company few consumers know by name, but whose products millions rely on to move about their daily lives.
Automotive industry supplier Continental said Wednesday that it’s cutting its investment in the internal combustion engine, to better focus on the electric powertrain it believes is the future of the car.
France, the UK, and the Netherlands have all pledged to ban the sale of gas- and diesel-powered cars in the next few decades.
China has severely limited the number of non-electric cars anyone can sell within its borders.
Automakers like Volkswagen, Daimler, BMW, and even American stalwarts Ford and General Motors have responded by promising to introduce dozens of new electric and hybrid models.
The Hanover, Germany-based supplier will stop expanding its business dedicated to making things that only engine-powered vehicles need, like fuel injectors and pumps.
