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Despite the rise of electric vehicles (EVs), the internal combustion engine remains a prevalent choice for consumers around the world. Factors such as infrastructure, affordability, and driving range contribute to this continued preference. In many regions, the availability of charging stations remains limited, making ICE vehicles a more practical option for long-distance travel. Moreover, the lower upfront costs of ICE vehicles, compared to most EVs, appeal to budget-conscious consumers.


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3. Technological Advancements The quest to meet the 8% improvement benchmark has spurred innovative technologies within the automotive industry. From advanced battery technologies to improved combustion engines, manufacturers are investing in research and development to enhance vehicle performance. This not only benefits consumers with better products but also drives economic growth through the creation of jobs in technology and engineering sectors.


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