VP of Infiniti Americas Tiago Castro explains the company’s new direction when it comes to electric vehicles.
Transcript:
CAROLINE WOODS: I’m curious about where you stand in terms of EV progress. I know a few years ago you set out to have a goal of electrifying the majority of your lineup by 2030. Is that still the plan?
TIAGO CASTRO: So we have made a few adjustments to the EV plan. We will still have an EV, EV available soon within that time frame that you just mentioned. But we want to prioritize all other models before that. So next week, in fact, we’re going to be with all retailers of Infiniti in Americas. And we’re going to be presenting a plan for the future. This plan really started with the QX80 next last year, QX60 this year, 65 next year, and then one model per year for the foreseeable future. So we can build this brand again to deliver what clients really want.
CAROLINE WOODS: How much do you attribute the change of plans there in terms of EVs and really the delays to lack of EV demand versus the rollback of some of those government incentives that are incentivizing people to purchase EVs?
TIAGO CASTRO: I think they kind of go together. There was a little bit of less demand than expected in the initial forecasts, for example, that we saw forecasts in 2020, 2021. That forecast has come down. And then when you apply, in addition to that last demand, you apply the lack of government incentives. Obviously, the demand comes down even further. So we see the approach of the ICE engines is still being very important for luxury buyers, hybrid engines, very important for luxury buyers and eventually also EV. So there’s a combination that we’re going to work on. The goal here is to offer a portfolio where clients can decide what they’re looking for, and we’re going to be able to supply them with that vehicle. With the luxury expected from Infiniti, with the performance expected from an Infiniti. So your Infiniti EV anytime between now and 2030.
CAROLINE WOODS: So I’m curious, do you see a time when showrooms are only stocking EVs, and if so, when do you think that will actually happen?
TIAGO CASTRO: You know, right now in the near term, I don’t see that happening. You know, are we talking about many years ahead. I’m not ready to forecast that for you. But I think there will be a longer transition than we all thought, that’s for sure.
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