According to estimates by Bloomberg sales of fuel and vehicles has already peaked, and perhaps never more to rise, because the price of batteries fell. The increase in the number of electric vehicles, in turn, means that the peak demand for oil can come in just 10 years.
According to a new Bloomberg NEF report, oil demand is projected to peak in 2028 for passenger cars and in 2035 for commercial vehicles. The rapid growth in electric vehicle sales will cause a slowdown, a peak, and then a drop in oil consumption. Oil prices and the cost of investment in oil companies will fall. Continue reading
Automakers and startups are preparing a fleet of new electric vehicles, crossovers, SUVs and even pickups for the coming model years. For example, new electric cars that will go to showrooms in 2020 include the Bollinger B1 SUV, Mercedes-Benz EQC, the new Mini Electric, Polestar 2, Porsche Taycan, the Rivian R1T pickup, and Tesla Roadster and Model Y.
Only recently introduced its crossover e-tron quattro and its cheaper version, Audi plans to release 20 new electric vehicles by 2025. The automaker has already announced that a TT sports coupe/convertible will be released in the electric version in the coming years. Reports suggest the company will also electrify its flagship A8 sedan, as well as offer a version of the Q4 e-tron crossover. Continue reading