The automobile industry has seen a surge in electric vehicles lately. More and more manufacturer are making a shift from internal combustion engines to electric motors. The coronavirus pandemic has led to a painful recession. During this tough time, sales of battery-powered and hybrid cars have performed better. Also, due to regulatory pressure, brands are prepping to roll out a slew of electric models so that they can meet tougher limits on greenhouse gases that come into full force next year.
Volkswagen is one such brand that will be stopping all motorsport activities and focus on electrification efforts. Honda too announced in September that it will be focusing on electrification and sustainability. This further led to its exit from Formula 1. Now it seems that Fiat has also joined the bandwagon. Fiat's 60 percent of vehicles will be electrified by the end of 2021.
Furthermore, Fiat is planning to get in new hybrid models instead of traditional plug-in electric vehicles. The brand has already introduced the hybrid version of Fiat 500, the Panda, and the Lancia Y. We can expect a couple of cars more in the coming years. These include 500X, Tipo, Fiat 500 electric, and Fiat E-Ducato. The main reason behind the brand planning to get in more and more electric vehicles is that it is still lagging behind in its electrification efforts. Also, the automaker has been forced by the European Union’s Emission requirements to buy emission credits. Fiat has partnered with the world’s highest-valued automotive company Tesla to comply with CO2 emissions for the EU. Apart from this, the Italian automaker is also dependent on Tesla for scaling up its operations and productions in the EU.