Is the auto industry ready to ditch the gasoline engine?

New developments in powertrain technology are likely to rewrite the business models of every automaker on the planet as internal combustion engines (ICEs) appear to be teetering on the verge of a slow but sure decline. For starters, light duty diesel engines look set to go: while more diesel SUVs are appearing in the US market, across Europe and much of Asia the trend is reversed. Instead, consumers are choosing to buy cars with gasoline engines, or, in smaller numbers, hybrid and electric vehicles (EVs).