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The electric-car boom is so real even oil companies say it's coming

Commodities

The electric-car boom is so real even oil companies say it's coming

Bloomberg Published on Wed, Apr 26, 2017 / 8:45 AM GMT+8

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NEW YORK (April 26): Electric cars are coming fast -- and that’s not just the opinion of carmakers anymore. Total SA, one of the world’s biggest oil producers, is now saying EVs may constitute almost a third of new-car sales by the end of the next decade.

The surge in battery powered vehicles will cause demand for oil-based fuels to peak in the 2030s, Total Chief Energy Economist Joel Couse said at Bloomberg New Energy Finance’s conference in New York on Tuesday. EVs will make up 15% to 30% of new vehicles by 2030, after which fuel “demand will flatten out,” Couse said. “Maybe even decline.”

Couse’s projection for electric cars is the highest yet by a major oil company and exceeds BNEF’s own forecast, said Colin McKerracher, head of advanced transport analysis at Bloomberg New Energy Finance.

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The electric-car boom is so real even oil companies say it's coming

Commodities

The electric-car boom is so real even oil companies say it's coming

Primary tabs

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The electric-car boom is so real even oil companies say it's coming

Commodities

The electric-car boom is so real even oil companies say it's coming

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