Why car makers won't slow EV push - even if ICE age extended

Even if governments in the UK or EU extended the exit timeline for new combustion-engine cars, major manufacturers likely would not change course on electrification, according to UBS automotive analyst Patrick Hummel. He argued that carmakers would “change exactly nothing,” and could even accelerate EV rollouts. The core shift is financial: EV pricing improved as demand surged and the cost gap between charging and fueling broadened, alongside better charging infrastructure reaching what Hummel calls “triple parity.” Some brands are still sacrificing margin, but others are not—for example, Volvo says its electric EX60 is more profitable than its ICE XC60. Hummel cited Volkswagen’s ID Polo ramp-up delays and warned that rivals like BYD could capture demand.