The advent of EVs is reportedly making a dent in oil demand
According to a Bloomberg New Energy, oil industry experts project that demand for oil will be dramatically affected by the increasing adoption of electric vehicles (EVs). The higher sales of electric public transport vehicles in China and other countries, has already started making a dent in oil demand.
In an indication that EVs are now biting into oil demand, nearly 279,000 barrels of oil are being removed from demand per day, largely because of the fact that the equivalent of London’s bus fleet is being added by China every month or so.
Highlighting the fact that the change in oil demand due to the advent of EVs is largely being driven by economics, the Bloomberg New Energy report has elaborated that the total cost of EV ownership notably outperforms the alternative options.
As per the report, the total cost of ownership of a 110kWh battery e-bus coupled with the most expensive wireless charging option comes at par with a diesel-powered bus at approximately 60,000 km completed per year.
To explain the scenario differently, the report has asserted that, as compared to a diesel bus, running an e-bus with the smallest battery -- coupled with the most expensive wireless charging option -- is much cheaper in a medium-sized city, where the average daily distance travelled by buses is 170 km.
The report further added that “Even the most expensive electric bus at 80,000km per year has a TCO of $0.92/km, just at par with diesel buses.”
At Pebble Beach Automotive Week in Monterey, California, on Thursday, a stunning electric supercar prototype was unveiled by German automaker Audi. The prototype is called ‘Audi PB 18 e-tron.’
In response to recent reports about the Tesla Semi electric truck prototype having been spotted in Arkansas, Tesla CEO Elon Musk has commented that the truck was driven “across the country alone.”
In an apparent move to cut down emissions from heavy vehicles in Germany, Federal transport minister Andreas Scheuer has introduced a new plan under which truck tolls will be waived off for electric trucks.
In one of the noteworthy unveiling at the 2018 Paris Motor Show, a new commercial electric cargo scooter was introduced by Gaius Auto.
According to a recent Reuters report, German automaker Volkswagen AG (VW) is in talks with China-based Didi Chuxing for a possible joint venture.
The electric line-up of Swedish group Volvo Trucks has got a new addition, with the company having recently unveiled an all-electric garbage truck called the ‘Volvo FE Electric.’