Partially true. Palladium, rhodium, and platinum are used to reduce exhaust emissions, but the electric car fad will never be popular unless gasoline becomes unobtainable which is not expected.
Need to keep an eye on that, several countries, including one of the largest markets, China, have passed laws outlawing fossil fuel powered vehicles by 2030 or 2040. If more countries follow suit electric vehicles will become more and more prevalent. I know a lot of people say they won't take off because there isn't a widespread system of charging stations, but they will come. After all when Ford started manufacturing Model T's in 2008 there were only a handful of "gas stations"
An exhaust manifold might be more attractive than some of the nose and lip rings being flaunted about by some women these days.