Uncertainty in the transition to all-electric powertrains continues to rattle the automotive industry. That includes Ineos Automotive, a subsidiary of petrochemical company Ineos, which has announced that it will postpone the launch of the new all-electric Ineos Fusilier SUV. Waning consumer demand and uncertainty over tariffs are cited as justification, both of which are definitely considerations for other EV producers as well, including GM.
The Fusilier was originally slated to hit production in 2027, and was framed as a smaller utility model compared to the Ineos Grenadier. The Ineos Fusilier was expected to offer both an all-electric powertrain and a gasoline-supplemented range-extender option, with the latter incorporating a small gas engine to keep the electrons flowing. However, the range-extender option now faces a possible ban in Europe and the U.K. as the result of impending emissions regulations.
According to a report from Bloomberg, Ineos expressed the need for long-term policy clarity on carbon targets as part of the justification for the delay of the Ineos Fusilier. The company also highlighted low consumer demand for EVs.
Jim Ratcliffe, the billionaire Ineos chairman, has diversified Ineos away from its core chemical business due to weakening product demand and rising borrowing costs. The development of the Fusilier was in collaboration with auto supplier Magna International Inc., which confirmed the postponement to Austrian newspaper Kronen Zeitung.
Despite the delay for the Ineos Fusilier, the automaker will move forward with production of the gasoline-powered Grenadier in Hambach, Germany.
General Motors has shifted its electrification strategy as well, recently announcing that it will reintroduce plug-in hybrid electric vehicles (PHEVs) to the North American market as the national charging infrastructure is built up. Ford and Volkswagen have also delayed the introduction and development of new EV models this year.
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Comments
I thought the Grenadier was made in France.
I keep finding it hilarious that automakers that cannot scale EV’s keep using the excuse that the demand is low but every single year more EV’s are sold around the Wold.
So about that…
1) EV sales are growing: Well yes. When you start from the bottom there is only one way to go. Up. But the problem is that the market of upper middle class is saturating and they need to get into the mass market of middle class car shoppers. And THAT is where the snag is.
2) The media can claim one thing but what really tells the story are transaction prices. And the fact that Tesla, Lucid, and Rivian has to keep dropping prices of not only of their cars, but also their services like Autopilot, and then have to announce layoffs while the legacy automakers are holding their ground is telling me otherwise. At the end of the day, the numbers speak louder than an agenda driven media. Its basic supply and demand. If EVs were selling so hot, they wouldn’t be getting discounted up the wazoo.
@85ZingoGTR
I am sorry but that logic doesn’t hold water.
There is more than just only going up. If sales are not there then the numbers year over year would be going down correct? So as stated it is without a doubt a false narrative constantly being made by Legacy and or automakers that simply cannot produce EV’s
The automakers do not have to cut price due to lack of demand, they are cutting price due to the prices of material goods going down dramatically and competition in the space. It is a win win for us the consumers. Tesla and BYD are still making money. Especially Tesla.
All I am saying is lets all just look a little deeper than blindly believing automakers that cannot compete and MSM that is financially tied to Legacy Autos survival as gospel.
Sales each and every single year thus far has gone up and yes that does include the USA. Think about how robust the demand for EV’s are when they tend to be on the pricier end of the market with super high interest rates but their sales are still going up.
Imagine once there is a plethora of 25K EV’s on the marketplace for customers to chose from.
Nice Well Done Jeep