Why GM and Volkswagen are ending hybrid vehicles

By Paul ConnerAutoFOXBusiness

Ford's new cop car is a high performance hybrid

FoxNews.com automotive editor Gary Gastelu hits the track in the new Ford Police Interceptor Utility Hybrid pursuit vehicle.

Two top automakers are ditching hybrid vehicles and going all in on fully electric cars.

Continue Reading Below

The move from GM and Volkswagen is all about meeting tough emissions standards that are being implemented around the world, according to the Wall Street Journal.

"Our strong preference is to go all-in where the market is heading, as opposed to hybrids as a way to hedge our bets," Volkswagen CEO Scott Keogh told the Journal.

Ford and Toyota, on the other hand, are sticking with hybrids, with Ford pumping more money into models like a hybrid F-150 and Toyota maintaining the popularity of its Prius model.

MORE FROM FOXBUSINESS.COM...

“We can’t say to the customer ’You have to take an all-electric vehicle,’” top Ford engineer David Filipe told the Journal.

GM killed the Chevrolet Volt late last year amid concerns that the car was too expensive, even with a $7,500 federal tax credit. The Volt tax credit began to phase out in April 2019, dropping to $3,750 until September and $1,875 until March 2020.

TickerSecurityLastChange%Chg
GMGENERAL MOTORS COMPANY36.06-1.20-3.22%
VWAGYVOLKSWAGEN AG15.8675-0.18-1.14%
FFORD MOTOR COMPANY8.77-0.27-2.99%
TMTOYOTA MOTOR127.83-1.82-1.40%

The federal government offers a $2,500 tax credit for those who purchase a 2012-2015 Toyota Prius Plug-In Hybrid, and $4,502 for a 2017-2019 Prius Prime Plug-In Hybrid.

The tax credits for each manufacturer are phased out when the company sells 200,000 qualified electric cars in the U.S.

CLICK HERE TO GET THE FOX BUSINESS APP

China is implementing regulations to fine automakers that fail to sell a certain number of zero-emissions vehicles.

What do you think?

Click the button below to comment on this article.