"We're all in," Ford Motor Executive Chairman Bill Ford Jr said of the company's $11 billion investment, announced on Sunday at the North American International Auto Show in Detroit. ""Tesla faces real competition," said Mike Jackson, chief executive of AutoNation Inc, the largest U.S. auto retailing chain. "We will see whether demand will drive our (electric vehicle) sales or whether we will all be trying to catch the last customer out there," Zetsche said. "For now, Nissan Motor Co Ltd's 7-year-old Leaf remains the world's top-selling electric vehicle and the company's sole battery-only car - an offering soon to be swamped by new rivals bringing tougher competition that could add pressure to pricing. And hybrids are less costly, do not require new charging infrastructure and are not burdened by the range limits of battery electric vehicles, he said.

Source: Economic Times January 16, 2018 04:15 UTC