The penetration of electrical vehicles (EV) is set to grow in the coming years and may reduce the growth in global oil demand, according to Rystad Energy at a seminar on India’s challenges to achieve energy security held recently at the Norwegian Embassy.
Rystad Energy is an independent oil and gas consulting service and business intelligence data firm offering global databases, strategy consulting and research products. The firm recently established offices in Bangalore.
According to the firm, the sales of light duty vehicles will constitute 40 percent of global growth in oil demand. If these sales are partly replaced by electrical vehicles, the demand for oil will be drastically reduced. Read More…
Latest posts by Auto Economic Times (see all)
- Mahindra Electric Delivers First Lot Of e-Verito Models To EESL – November 16, 2017
- Electrical Vehicles Will Reduce Demand For Oil Worldwide: Rystad – November 15, 2017
- Shell Hailed As Lubricant Global Market Leader For 11th Time In A Row – November 14, 2017