The Head of Global Powertrain Coordination at Fiat-Chrysler has announced the company will not invest in hybrid or electric vehicles until consumers are willing to pay for the technology.

Speaking at a conference in Michigan, Bob Lee said consumers don't value hybrid or electric vehicles enough to pay for the expensive technology that goes along with them. As he explained, "Many customers want to reduce C02 [emissions], but they aren't willing to change their lifestyle or pay the cost - yet."

Instead, the company plans to offer more turbocharged and diesel engines. While diesels engines are about as fuel-efficient as petrol-powered hybrids, Lee says diesels deliver better performance which gives then an edge.

Got a tip for us? Email: