Once upon a time, it was a bold prediction that by 2040 all new car sales would be electric. In fact, many countries still have far more pessimistic goals. But anyone who follows this sector knows to some extent that even the less aggressive carmakers are aiming to use full electricity by 2035. Tesla’s Elon Musk also predicts that the entire market will be electric vehicles by that time, and California aims to sell 100% electric vehicles by 2035.
Some people in the industry still think that new gas and diesel cars will sell in 2040 or 2050, but fewer are thinking about it. As a side note to emphasize that point, I’ve talked to various car suppliers over the years, and they (even a few years ago) almost all the new designs they deal with from car makers are electric. I said there is. It took years to develop a new car, and the results of the work done this year will not be on the market for the next few years, but if there are few new fossil fuel car designs these days, don’t do it. please give me. Many new fossil fuel vehicles are expected to be sold in eight years, not to mention 18 years.
As Steve Hanley wrote yesterday, ExxonMobil CEO Darren Woods just said CNBC ExxonMobil expects all new car sales to be electric vehicles by 2040. yes, Exxon Mobil.. If you believe that the country aims to phase out fossil fuel vehicles by 2050 (2040 to 10 years later), it’s a bit of a shocking statement. Oil companyBut if you believe the predictions from Volvo, GM, Volkswagen and Tesla, it’s not that shocking. That being said … what does it really mean that Exxon’s CEO is saying this?
There are several things that can mean.
First, if the CEO of ExxonMobil says that all new car sales will be fully electric cars by 2040, the actual crossover to 100% electric cars could take place well before 2040. .. The CEO of a major oil company expects to be pessimistic about the timeline, not optimistic or realistic.
Another possibility is that Darren Woods has provided the best predictions that are actually available and is talking about it now. Everyone else knows that he is ending the era of ever-increasing demand and production in the oil industry, and he simply says it’s for oil companies like his little baby Exxon. A story about what it means. As Steve Hanley summarized, his point is, “The decline in demand for motor fuels only means that the company will return to its 2013 state, and the business at that time was very good.” It was a thing. Simply put, even if demand for EVs rises and the oil market shrinks, oil companies can still make the same huge profits as they did ten years ago. Shareholders, don’t worry! Everyone knows that European countries and China have a 17% to 30% share of the plug-in vehicle market, or an 11% to 17% share of the BEV. And that’s only 2022.
Woods may also be cleverly suggesting to people that the electric car isn’t ready by using 2040. yet.. It could be his “bullish” way of telling potential customers that they can buy another fossil fuel giant truck or SUV and still don’t have to rush to buy an electric car.
If you have more ideas on what this means, chime in the comments!
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