Oil's march toward $100 is just what electric cars need [View all]
Oil’s march toward $100 a barrel is coming at just the right the time for auto makers investing billions in the switch to electric cars.
Fuel prices reached a four-year high last month, concentrating consumers’ minds on the relative costs of internal combustion versus electric motors. For companies preparing to bring a record number of electric and hybrid models to market in 2019, oil’s rally could turbocharge demand.
“The higher the price of oil the more tailwind we’re going to have behind electric cars,” Carlos Ghosn, chairman of Renault SA and Nissan Motor Co., said at the Paris Motor Show on Wednesday.
As production of Tesla Inc.’s Model 3 grabs much of the attention, carmakers in Asia, Europe and the U.S. plan new models across all market segments in 2019, from cheap city runabouts to high-performance roadsters.
https://www.msn.com/en-us/money/companies/oils-march-toward-dollar100-is-just-what-electric-cars-need/ar-BBNTKlZ?li=BBnbfcN
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