In a recent interview, former Ford CEO Mark Fields shared his insights on the electric vehicle (EV) sales trajectory. He cautioned that while growth is inevitable, it might not unfold as swiftly as automakers anticipated.

Now a CNBC contributor, Fields emphasized the distinction between EV early adopters and the broader mainstream market. While factors like innovation and environmental impact drive early adopters, the average consumer prioritizes cost and convenience. According to Fields, concerns about EVs’ premium pricing, the insufficient charging infrastructure, and the time required for charging could deter mainstream buyers from making the switch.

He noted that the current landscape favors hybrid vehicles, which offer a compromise between traditional internal combustion engines and fully electric cars. Fields pointed out that while EV sales soared last year, reaching a record of over 1.1 million units in the U.S., the pace of growth may not meet industry expectations. This discrepancy has led to price reductions, rising inventory levels, and increased incentives in the EV market.

Despite these challenges, Fields remains optimistic about the long-term transition to electric vehicles. However, he emphasized that it would take time, drawing parallels to the gradual phase-out of horse-drawn carriages after the invention of automobiles. He suggested that even as EVs become mainstream, there will still be a niche market for internal combustion engines catering to collectors and enthusiasts.

Looking ahead, Fields raised questions about the fate of EV startups amid the evolving automotive landscape, highlighting the uncertainties that lie ahead in the industry’s transition to electrification.