Oil companies may go extinct as electric cars come underway
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| An electric car recharging at a charging station |
Car manufacturers have been improving on the
distance (miles) that the battery-electric cars can cover before they will need
to be recharged, which is becoming more affordable for an average car buyer to
purchase.
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| A petrol car refueling in a petrol station |
Most vehicles in the world are powered by petrol or
diesel which is gotten from refined oil drilled by oil companies such as:
Total, Shell, ExxonMobil among others. With this recent innovation in electric
car developments, oil companies are under serious threat of closure as the
electric market and companies might take over their market share if they don’t
adopt electric innovation pronto.
Total oil company based in France have attested to the
fact that by the year 2030, 15 to 30 percent of brand new vehicles will be
electric cars, the company in the light of this discovery purchased solar-panel
maker SunPower in 2011 and also bought battery maker Saft in a deal estimated
to be worth $1 billion.
While some other oil companies are tagging along to
the recent trend in the automobile industry in order not to go extinct,
ExxonMobil has argued that by 2040, electric vehicles will only hold 10 percent
of the automobile market. With this claim it seems some oil companies who
refuse to look into the future, will be overrun by Electronic companies who
might have inputs in the production of electric cars.
Below are some benefits of owning an electric car:
- Cheaper to run
- Cheaper to maintain
- Health benefits
- Other savings
- No exhaust emission which is harmful to health and the environment
- Better safety
Kindly let us know in the comment section below which you will prefer: Petrol/Diesel vehicles or Electric vehicles?
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