A recent survey suggests that consumers aren't that price sensitive to electric vehicles. The majority of 'green' consumers are willing to pay 30% more for a 'zero-emissions' vehicle, but they aren't willing to compromise of features or performance.
But predicting the death of the internal combustion engine is a bit premature. There are many new strategies to develop environmentally conscious fuel for combustion. One such process--diesel derived from algae that breaks down plant matter--took an important step towards prime time.
It's important to remember that pure electric strategies really work best when you can use manufacturing techniques to significantly reduce the weight and shape of the vehicle. In the case of commercial and industrial vehicles, this is very challenging. So finding new sources of diesel fuel is critical to ensuring the viable operation of our infrastructure.