The transition from engine combustion to alternative fuel is already on the horizon as automakers and suppliers gear up for the rapid evolution of the EV industry.

At the ongoing Car Management Briefing Seminars, panelists discussed the auto industry's transition to EV technology alongside related government regulations and demand among consumers, Automotive News reported Tuesday. Discussions at the event also tackled many different things, including the challenges faced by the industry in increasing the demand for EVs.

General Motors Vice President of Strategic Technology Initiatives Dan Nicholson shared that the auto industry will gain more insight into consumer interest by placing electric vehicles in more segments, price points, and brands.

Nicholson said giving choices to consumers and educating the public may positively impact purchasing decisions.

"That's really the way forward," Nicholson added.

YOU MIGHT ALSO LIKE: Aurus Car Serves as Symbolic Gift Signaling Strong Ties Between Leaders Putin, Kim Jong-Un 

Collin Shaw of Motor & Equipment Manufacturers Association (MEMA) agreed that public education is a way of getting people to consider buying EVs, adding that it's also important to address the commercial risks suppliers and automakers encounter amid the shift.

"We need to continue to work together to ensure that both sides of the equation are healthy and profitable," Shaw said.

Meanwhile, Toyota Motor North America's Dante Boutell said securing the required battery components is still a learning curve. The official revealed that materials such as copper wire and microchips aren't localized yet in North America.

Boutell stated that new strategies are needed to balance factors such as affordability, regulations, supply chain and carbon footprint. 

The transition to EV was further highlighted by Lyndon Lie of Volkswagen Group of America at the event.

According to the Chief Engineering Officer, they aim to release 10 to 15 battery electric vehicles in the United States by 2030 and plan to seek multiple partnerships apart from battery unit PowerCo for the endeavor.

Randy Frank of Scout Motors remarked that the transition would require more than batteries and EV propulsion systems. He said that aspects like cost, design structures and the weight of the vehicles must be taken into account as well.

IN OTHER NEWS: Sony Honda Unite to Revolutionize Electric Vehicle Development, to Share Common Platform for EVs

Copyright @ MOTORTIMES, All rights reserved. Do not reproduce without permission.