Tag: #evs

Ways Fleet Managers Can Improve Time Management

Time management is absolutely crucial across all areas of business. However, the parameters for it can vary slightly between departments. 

Fleet managers, in particular, have a sizeable undertaking before them. Not only do they need to save time in all of their work processes, but they also need to ensure that the cars they preside over run like clockwork and that drivers face no issues in their roles too. Their efficiency is other workers’ efficiency, too. 

Tech plays a role in certain areas here too. After all, many different aspects of the business world are becoming digitised, and fleet management is no exception. Optimising time management will require some measure of innovation. Here are some of the best ways fleet managers can improve time management.

Lease EVs 

The shift to electric vehicles (EVs) is sometimes painted as a costly endeavour. However, in the enterprising world, time is money, and EVs save a significant amount of it. 

EVs can be safely charged overnight. Consequently, this drastically reduces the need for fleet drivers to pull over mid-journey and lose valuable commute time. It also means they can spend more time doing the part of the job they likely love most; cruising behind the wheel and seeing new places as the world rushes by. All of this might enable you to guarantee faster delivery times to customers and clients, too. 

Overhauling your gas-guzzling fleet to EV counterparts isn’t a hefty task. Read the ultimate guide for leasing an electric car written by LV ElectriX. Not only can it enlighten you of the perks of these efforts, but the guide can also instruct you on how to make the transition successful. They also manage your expectations when waiting for factory orders, giving you an idea of supply chain complications. Much more is discussed, too, and you can also browse leasing and insurance offers with them to secure your fleet EVs more efficiently.    

Optimise Route Potential

Optimum routes are always in flux. If fleet managers are constantly playing catchup with any changes, it can lead to a host of other logistical problems that they must overcome. 

The most obvious suggestion is to devise shortcuts for drivers to take. Still, this isn’t always the most viable path forward. After all, fines are now in place to reduce emissions in key areas, so certain roads that seemed primed to cut travel times shouldn’t be used. Research where those measures may apply as you optimise travel routes and ensure drivers only go where they’re allowed. Otherwise, you’ll no doubt have fines and related admin to sort. 

Furthermore, road closures can frequently materialise due to accidents or maintenance works. If these circumstances aren’t noted ahead of time, it can lead to a stressful series of diversions. Keep tabs on the health of the traffic in your firm’s areas of operations, and remind your workers to receive real-time updates, whether through smartphone notifications, live radio, or fleet management software (more on that later). That way, you won’t have to put other duties on hold as you scramble at the last minute to course-correct your drivers. 

Installing Fleet Trackers

You should trust your drivers to cruise along the most promising routes only. Still, there are other reasons to track their movements to improve time management. 

Fleet drivers can get lost or may even have their vehicles stolen. More than locations can be discerned too. The tech also provides statistics on how long engines have been left on and idle for and how much fuel is being consumed. All of this data can give you important insights into the fleet and reduce the amount of time you spend detecting irregularities, identifying the culprits, and generally tending to all other related fleet management duties. 

It’s important to be careful here about what trackers are used. Fleet drivers have been wrongly fired due to faulty GPS trackers incorrectly tracking their movements, leading superiors to believe unnecessary detours were taking place. Ensure you’re using a reputable supplier and perhaps have more than one system running in case of errors occur. 

Accommodate Fleet Management Software

Fleet managers must have a comprehensive overview of all the matters that require their attention. It all needs to be fed through to them in one centralised location. A state-of-the-art fleet management system provides those assurances for the most productive professionals in this arena.  

Optimising routes and keeping tabs on fleet trackers can all be done through a fleet management system. There are also custom reporting tools, routine maintenance notifications, and supports real-time updates about dangerous driving habits your workers may be practising. Very few things escape your notice here, which means you can address them all sooner. 

Because of the in-depth nature of fleet management software, you’ll have a better sense of the issues that immediately require your attention and a built-upon awareness of tasks that can be comfortably delegated elsewhere. Consider outsourcing some of the more tedious administration procedures to fleet management specialists. That way, you can devote more time to the most pressing issues your fleet management software highlights. 

Volkswagen ID. Buzz Takes Irish Car of the Year Title for 2023

At an awards ceremony today at the Westin Hotel in Dublin, the Volkswagen ID. Buzz was named as the 2023 Irish Car of the Year in association with Continental Tyres.

Members of the Motoring Media Association of Ireland (MMAI), the grouping that brings together some 32 of Ireland’s most experienced motoring journalists, hosted the awards event attended by Ireland’s leading car brands, importers and distributors. The awards are voted on by the members of the MMAI who individually assess each new car model that is launched in Ireland each year.

Volkswagen took the top award with its latest all electric ID. Buzz model and, the van version, the ID. Buzz Cargo, won the Irish Van of the Year title at the same ceremony, a first in the history of the awards.  It is the third time that an electric vehicle has taken the award as Kia EVs also won the 2022 and 2020 Irish Car of the Year titles with the all electric EV6 and e-Soul respectively.

Chairman of the MMAI, Joe Rayfus: “The Volkswagen ID. Buzz is a really worthy winner of the Irish Car of the Year title, it is a truly stand-out vehicle.  As the third electric vehicle to win the title, it really does confirm the onward march in Ireland towards an electric motoring future.  Just look at our field of runners for this year’s awards, more than half of the contenders are available as either partial or full electric vehicles”. 

Tom Dennigan of awards sponsor, Continental Tyres said: “After the Covid disruption that impacted on the Irish Car of Year awards over the past couple of years, we are delighted to be back with these awards for 2023.  The MMAI jurors provide a great service to Irish motorists in providing a really helpful insight into the broad range of increasingly sophisticated car models that are launched here each year.  No doubt, the Irish Car and Irish Van of the Year titles will be a huge boost to the popularity of the ID. Buzz in the new vehicle market in January and throughout 2023.”

The all electric ID. Buzz uses the same 77kWh battery as the Volkswagen ID.4 and delivers a 420km range from a single charge.

The Irish Car of the year category winners:

  1. Irish Small Car of the Year: Fiat 500e
  2. Irish Compact Car of the Year: Opel Astra
  3. Irish Compact Executive Car of the Year: Mercedes-Benz C-Class
  4. Irish Compact Crossover / SUV of the Year: Kia Niro
  5. Irish Medium Crossover / SUV of the Year: Kia Sportage
  6. Irish Large Crossover / SUV of the Year: Citroen C5X
  7. Irish MPV of the Year: Volkswagen ID. Buzz
  8. Irish Luxury Car of the Year: Mercedes-Benz EQS
  9. Irish Large Executive Car of the Year: Mercedes-Benz EQE
  10. Irish Performance Car of the Year: BMW i4 M50

Actavo launches new EV Charge Division

Actavo, a leading international infrastructure operations partner, headquartered in Dublin, has launched its first-ever direct-to-consumer offering, Actavo HomeCharge, specialising in the installation of electric vehicle (EV) chargers in homes. The new service is available to customers nationwide and leverages Actavo’s over 40 years of experience in managing In-Home installations for leading brands, as well as its expertise in installing EV charge points in Ireland and the UK.

All of the chargers offered by the company are smart EV chargers, which allow consumers to manage their car charging from a mobile app and avail of the best tariffs. In addition, all of the EV chargers in the Actavo HomeCharge product range qualify for the Sustainable Energy Authority of Ireland (SEAI) grant of up to €600 for home charging units, which is available to homeowners regardless of whether they currently own an electric car.

Actavo’s In-Home team of over 500 service engineers, customer service staff, and technicians, currently carries out over 40,000 home visits per month under household brands such as Sky, SIRO, Virgin Media, and Prepay Power.  In a new departure, under the Actavo HomeCharge brand, a nationwide team of highly experienced electricians is being deployed to roll out this new service directly to consumers across the country.

Brian Kelly, CEO of Actavo said: “Actavo is delighted to launch its new EV Charge division, HomeCharge. This is an exciting opportunity for the company in the rapidly growing market for Electric Vehicle chargers. We will be leveraging the talent and expertise of one of the country’s largest and most experienced in-home installation teams, in our first-ever direct-to-consumer offering.

As electric vehicles become more and more ubiquitous, the demand for the installation of smart EV chargers in the home will increase at a fast pace in the coming years. We believe this offering will benefit consumers as it provides a fast, reliable, nationwide service from an expert team and it also speaks to Actavo’s commitment to operate sustainably, as we increase our focus on sustainable practices and services.”

According to the Central Statistics Office, In the first seven months of 2022, 21% of all new cars licensed for the first time were electric or plug-in hybrid electric vehicles compared with 14% in the same period in 2021.

Actavo HomeCharge will facilitate the installation of a wide range of EV chargers, compatible with all major electric car brands.

EV charging startup Monta secures €30m Series A+ for EU expansion

Monta, the only all-in-one EV charging management platform, today announced it has closed an additional EUR 30 million as part of a Series A+ round led by Energize Ventures, a leading global investment manager accelerating digital innovation for energy and sustainability, with participation from returning investors Creandum, Pale Blue Dot, byFounders, and Headline. The latest financing brings Monta’s total to EUR 50 million.

While 2021 European EV sales increased by more than 65% compared to 2020, the lack of EV charging infrastructure is still one of the biggest hurdles to mass adoption. Not only do nearly 3,000 new public charge points need to be built each week for Europe to reach its target of operating one million charge points by 2025, but the customer experience is often hampered by a highly fragmented ecosystem of charge point operators and owners. 

Led by a team of seasoned entrepreneurs with experience managing large software development organizations, Monta is delivering an all-in-one EV charging platform that simplifies and streamlines deployment, use, and management of EV charging infrastructure. Via the Monta platform, charge point owners have full visibility into charge point use, pricing, access, and transactions. For EV drivers, Monta provides reservation, virtual queuing, and payment features under one platform as well as access to public charge points. 

“We are aiming to fully digitalize the EV ecosystem to tackle all the immediate challenges within the industry and build toward a more transparent and flexible future. By partnering with hardware OEMs we can deliver new features straight out of the box, like our new feature that allows operators to set a percentage on top of the spot price in order to follow the market fluctuations and automatically offer a fair price for charging, ” says Casper Rasmussen, Monta CEO. “The investment from Energize and our returning investors is a strong vote of confidence in our vision, team, and software as the cornerstone of the mobility infrastructure of the future.”

Monta’s EV charging management platform is used by notable utility, aviation, and transportation industry companies such as Vestas, CPH Airport, and PostNord as well as wholesalers, who are leveraging Monta to upskill installers. Since the company’s latest financing in January 2022, Monta has secured strategic partnerships with hardware manufacturers to launch its Powered by Monta (PBM) program in multiple markets. Key partners include Garo, CTEK, and ABB which each boast a range of charge points in Europe as well as Zaptec, which recently launched Zaptec Park, a co-branded app for its users.

“The market penetration of electric vehicles is climbing sharply as economic, regulatory, and climate levers accelerate EV adoption – and deployment of charging infrastructure has to keep pace. We expect more than 1.6 million public chargers and 20 million private charging stations to be deployed in the U.S. and Europe by 2025,” said Juan Muldoon, Partner at Energize Ventures. “As the market for charge point hardware grows and commodities, Monta offers a software solution that enables a consistent, improved charging experience for players throughout the EV charging value chain – from installers to drivers. We’re thrilled to partner with the Monta team as they pave the way for a more scalable and sustainable EV infrastructure.”

Monta will leverage the additional investment to open up new markets including North America, while consolidating its position in Scandinavia, the UK, and Germany, all of which have legislation in place slated to ban new ICE vehicle sales by 2025, 2030, and 2035 respectively. To further support the needs of the EU and the US – which has set a goal for 50% of its car sales to be EVs by 2030 – Monta will ramp up its product innovations and develop critical features to help EV drivers and charge point owners seamlessly navigate the industry.

Looking further ahead, Monta seeks to expand its product development to include grid management services amid challenges as more EVs hit the roads. Ultimately, the company expects to facilitate the sale of excess power back to the grid (V2G), manage interoperability with other zero carbon technologies (V2H, V2X), aid in the creation of local energy markets, and empower end users with ownership over their energy consumption. 

“The ability to take advantage of these new opportunities requires changes in information flows among grid devices as well as innovations in communication and coordination tools that increase the observability, predictability, and controllability of the grid. The societal impact and environmental potential of these technologies are massive. Monta is at the forefront of developing the systems needed to monitor and reward this flexibility to create an equitable energy solution for all EV drivers,” said Casper Rasmussen. 

The deal is expected to close later this year, subject to regulatory approval.

Electric vehicle owners believe the Government is not doing enough to facilitate the adoption of EVs

New snapshot research undertaken by Energia and the Irish Electric Vehicle Owners Association has found that while large numbers of EV purchasers are driven by environmental concerns (40%), almost as many are enticed by the financial savings offered by electric charging (39%).

More than half of respondents to the survey, which took place in June 2022, are paying less than €5 to charge their car, a clear illustration of the cost benefits of EVs versus traditional petrol and diesel vehicles. Furthermore, the number of people charging their electric vehicle daily has dropped by 7%, with charging 1-3 times a week the most common response.

The survey also found that electric vehicle owners feel the Government is not doing enough to promote electric vehicles, with 87% of respondents stating so. Almost a third (28%) lack confidence that the government’s target of 1 million EVs by 2030 would be reached.  However, respondents were positive about the available SEAI grant, with nearly a fifth stating that they wouldn’t have purchased a home charge point without it.

 

91% of respondents charge their electric vehicles at home. Free chargers, such as those provided by a third of survey participants’ employers, along with range anxiety, were the main reasons stated by the 9% who do not charge at home.

In terms of charging technology, most home charge points continue to come from charge point installers (47%) despite a decrease of 19% since 2021. Being able to connect their home charge point to their solar panels was of importance to 31% of respondents, an increase of 18% since 2021. There has been a 3% increase since 2021 in those using public chargers.

Ciara Moane, Electric Vehicle Product Owner with Energia commented: “We know that the environment is the most important factor for those deciding to buy an electric vehicle, and as Ireland’s greenest electricity supplier, we take pride in providing 100% renewable energy to our customers with charge points located at their home. Over the past year, the number of home charge points we have installed has increased tenfold. With one in five cars licensed so far this year being electric or plug-in hybrid, we are confident that we will see these numbers continue to grow significantly, along with the numbers of customers on EV specific tariffs. Energia’s EV offers include reduced night rates and tariffs bundled with discounted home charge points. We are delighted to be energy partners with some of Ireland’s largest electric car manufacturers including Hyundai, Kia, Opel, Honda, FIAT and Citroën. Energia are very proud to play our part in assisting customers to make cleaner energy choices and help them on their exciting journey to owning an EV.”

Kevin Dowling, Chair of the IEVOA added: “Over the past few years we have seen the shift to EVs accelerate, and from this research we know that Irish people’s deep concerns about their carbon footprint and their household running costs are prompting this. Being able to charge at home is a huge benefit for owners and alongside public transport, walking, and cycling, switching to an EV becomes low hanging fruit for households to play their part in efforts to reach net zero.”

Monta signs partnership in Ireland with Core Solutions bringing 50 new EV charge points

Electric vehicle (EV) software provider Monta and Core Solutions, one of Ireland’s largest installation providers, have partnered together to provide robust charging solutions across Ireland.

The partnership will kick off with the installation of 50 charge points in workplaces and multi-unit developments across Ireland, combining high quality hardware installation with easy-to-use charging software.

Chargers will be equipped with Monta’s software to enable easy management of the charge point. Users will also be able to access Monta’s feature rich app which provides roaming, payments via Google Pay and Apple Pay, and other useful tools for EV drivers.

Core Solutions will be using Monta as its exclusive software provider in Ireland, and the two companies say that the partnership will provide seamless charger installation with reliable servicing and management.

“We’re excited to launch our first partnership in Ireland” said Max Scherer, COO at Monta. “Core Solutions have a great reputation for providing thoughtful and purposeful EV charge point installations. Our platform will support Core Solutions by providing reliable software that makes EV charging flexible and fuss free in the workplace” Scherer concludes.

John McDonagh, Managing Director at Core Solutions, said: “We are incredibly excited to partner with Monta, the most reliable, scalable, and seamless EV charging solution there is. Working together with Monta we will unlock the full potential of our EV charging installations and place our clients on the best path for success in the new EV landscape.”

Since 1981 Core Solutions has been providing innovative electrical installations from their office in Dublin. Their mission is to provide outstanding end to end experiences for their customers and to create a greener, quieter, safer driving future for businesses and homes across Ireland.

 

Available as a web-based app, Monta allows businesses to manage their charge points, track energy consumption, usage, and costs in real time. Monta also provides a consumer app which allows users to share their charge point, access roaming networks, and view their charging data.

Eminence of LoomSolar providing the best Solar Installation Services

Battery technology is always evolving and keeping an eye on how leading Indian battery manufacturers meet the needs of their customers and what their EV battery ambitions are is important.

With the advent of electric vehicles (EVs) as a viable alternative to traditional energy storage, the world’s need for stored energy has skyrocketed. This has led to an ever-increasing need for better batteries. Many different kinds of batteries have been used over the years to power automobiles other than Solar System. Eventually, lead-acid batteries took over. Lithium-ion batteries, particularly in the mobility and storage segments, have finally posed a threat.

There are various ways in which Li-ion technology surpasses older technologies. It can take up to ten hours to charge a lead-acid battery for example. Lithium-ion batteries, on the other hand, may be recharged in as little as a few minutes, depending on the size of the battery. Lead-acid batteries charge more slowly than lithium-ion batteries, which can tolerate a higher rate of current. Li-success Ion’s is also being aided by improvements in the number of charging cycles or battery life. Li-ion batteries are being used in a variety of applications besides automobiles, such as telecom towers, mobile phones, and power grids. According to some estimations, 60 GWh of Li-ion cells would be needed by 2025 and double that by 2030.

Government Initiatives for using Green Energy

The Government of India is also taking steps to promote the growth of the electric vehicle industry in India, following the worldwide trend of increasing Li-ion battery use. The Make in India program and incentives for electric car purchasers are among the measures. A PLI plan for battery manufacturing’s advanced cell chemistries is already under way, with proposals from major businesses both inside and outside the country.

Monocrystalline solar panels and AC modules are made by Loom Solar Pvt. Ltd. They began in Faridabad in 2018 and have been producing the highest-quality solar panels ever since. Through 1500 re-sellers, they distribute their items throughout India, including rural areas. The solar panels they produce are among the best in the industry. All of their solar panels are made to exacting standards. As an interesting aside, they assert that their batteries for inverters and solar applications are the only ones made for the automotive, lithium, and tubular markets they serve.

Buying Loom Solar Products Has Benefits

Conserving energy is becoming increasingly dependent on solar panels. Many locations now have solar panels installed in their entirety. Loom Solar, the best lithium battery manufacturer, provides the highest-quality solar products to meet this need. Golden Bridge Business and Innovation Awards’ 11th annual 2019 gold and silver medals went to Loom Solar. They have direct access to India’s leading solar manufacturers. They offer items that meet the demands of their customers. All of their solar panels are of the highest quality and are guaranteed to perform correctly and endure longer.

The Li-ion or Lithium battery beta from Loom Solar is open to providing sustainable and greener options for household lighting systems, inverter compatible solutions, EVs (Electric Vehicles), science or DIY projects, and farming. Because of its high power density, long life, minimal self-discharge, and low maintenance requirements, Li-Ion batteries are becoming more popular for EVs and backup power systems in particular. The company has also recently been spotted actively entering the Lithium Ion market.

Seven of the World’s Ten Most Successful E-Vehicles’ Manufacturers Rely on Continental Tyres Ex Works

As sales of EVs continue to grow across Europe, premium tyre manufacturer, Continental Tyres is highlighting that its tyres are now relied upon by seven of the ten highest-volume manufacturers of electric vehicles. In Ireland, we have seen a 132 percent growth in the sale of electric vehicles year to date 2022 versus the same period last year.

Brands using Continental tyres as original equipment for their electric vehicles include Tesla, Porsche and Mercedes-Benz, as well as Kia and US manufacturer Ford.

Co. Meath native David O’Donnell, who leads the original equipment business at Continental Tyres, commented: “We develop tyres for different electric vehicles and their fields of application – whether they are small cars for city traffic or off-road SUVs.

“As the only vehicle-to-road connection, the tyre makes a very important contribution to underlining the required driving characteristics of the vehicle model.

“We are proud that so many manufacturers around the world are equipping their vehicles with our premium tyres – this is proof of our development expertise and the premium quality of our products.”

Continental’s research has shown that tyres are responsible for up to 20 percent of a vehicle’s total resistance and therefore have a significant impact on energy efficiency.

Energy efficiency is important to vehicle manufacturers – and therefore for Continental’s original equipment tyre business – as they work hard to reduce the CO2 emissions of their fleets.

Low rolling resistance is also in high demand for the owners of electric cars, for whom efficient driving is understandably a priority. Reduced rolling resistance has a clearly measurable positive effect on the environment, as well as ensuring maximum mileage per charge.

Dr. Holger Lange, who heads up tyre development for Continental’s original equipment business, added: “With our specific rolling resistance-optimised tyres, we are contributing to more climate-friendly and sustainable mobility. We combine our decades of experience in tyre development with findings from various practical tests and development co-operations with well-known manufacturers.

“Recently, we introduced a special tyre for vehicles of the Stellantis brands Peugeot, DS and Opel/Vauxhall which exceeds the requirements of the EU tyre label rating A for energy efficiency by around 17 percent. This tyre is particularly low in rolling resistance but has also received the top EU tyre label rating A in wet grip – an outstanding achievement by our engineers and material experts.”

Continental has developed a series of special technologies that meet other tyre requirements specific to electric vehicles, which are available in original equipment and replacement products.

These include ContiSilent technology, which reduces rolling noise levels in the cabin by as much as nine decibels – something that’s especially important to EV drivers, because the absence of noise from the engine makes road noise significantly more noticeable.

ContiSilent is a special foam layer applied to the inside of the tyre tread to absorb vibrations from the road. It’s compatible with all commercially-available rims and does not affect a vehicle’s performance, fuel consumption, load capacity or top speed.

Another innovation designed to put drivers’ minds at ease and support road safety is ContiSeal, whereby a highly elastic protective layer on the inside of the tyre encloses penetrating foreign bodies in fractions of a second and seals the damaged area when the foreign body is removed from the tread – which can be achieved simply by the tyre’s ongoing rotational movement.

Around 80 percent of punctures can be remedied immediately in this way, ensuring safe continuation of driving and eliminating the need for added load in the form of a spare tyre.

EVs are already heavier than vehicles with internal combustion engines because of the battery units they carry. In fact, the increased weight of vehicles on the road has partly influenced the requirement for a new HL (high load) designation for tyres.

Continental has been producing passenger tyres with the new HL load index designation since 2021. When inflated to the same pressure, the new ‘HL’ marked tyres have a higher load capacity than those built to the familiar XL standard.

The load capacity of the HL tyre with load index 101 is 825 kg, which is a ten percent increase over the XL standard

How will the rise of electric vehicles affect the oil industry?

If you told us a decade ago that electric and hybrid cars would account for 10% of the registered vehicles on UK roads, we probably would have been sceptical. However, this figure released in 2020 shows that the electric vehicle revolution is well underway. 

These sustainable alternatives are becoming more affordable and widely available. More and more car manufacturers are bringing out sustainably powered vehicles to meet the rising demand for these eco-alternatives. 

To help to combat climate change, the hope is that all gasoline, petrol and diesel vehicles will eventually be phased out, replaced by sustainably-fuelled alternatives. The government plans to ban the sale of all new petrol and diesel vehicles by 2030, meaning that these oil-fuelled vehicles will depreciate, causing more people to purchase electric cars. The question is — what will this mean for the oil industry? 

The refinement of oil  

Oil is the most actively traded commodity and is incredibly versatile, refined to create heating oil to warm our homes, to make petroleum to fuel our cars, to make jet fuel so that we can travel, and is used in the manufacturing of many everyday products. 

Oil is a fossil fuel, and though we are reliant on them for the majority of our energy needs, this will have to change. They will eventually run out and are one of the biggest contributors to climate change. 

It is apparent that a shift away from fossil fuels towards greener, more sustainable energy sources is the goal, but this will be a gradual change which will require time and a global adaptation to accept alternatives. 

A short-term solution to help combat the detrimental effects of oil refinement on the climate, was to place restrictions on the process to reduce emissions. These new rules required refiners to cut the amount of sulphur used in many of the fuels that they produce. This has caused many refiners to turn to light sweet crude oil. This grade has a naturally lower sulphur content than alternatives and therefore, releases fewer contaminants into the air that we breath.

In the near future, experts predict that the oil market will benefit greatly from development of weaker economies, particularly rapidly expanding Asian economies. As a result, oil trading on Plus500 for example, through a financial derivative, will still be viable and could prove to be a profitable investment, if you take the time to conduct sufficient research and make strategic decisions.

As smaller economies grow and become more prosperous, more individuals who reside there will be able to purchase their own vehicle. In fact, the International Energy Agency’s World Energy Outlook (WEO) propose that the total cars owned in the world could double in the next 20 years — reaching 1.8 billion vehicles. 

If the experts are right and this vehicle growth comes to fruition, it is likely that the world’s demand for oil could also double within the next 20 years, which is great news for oil traders, but not so great for the environment.

The majority of this growth is likely to come from developing countries. Therefore, though the number of electric cars will also increase significantly, it is likely that they will still only account for less than a tenth of the world’s vehicles. 

The rise of electric vehicles

Although electric vehicles are not likely to take over the world in the next 20 years, their effect on the oil industry in the more distant future is inevitable. Electric vehicles may be becoming a more common presence on our roads, but our petrol and diesel vehicles are also working harder to become more environmentally friendly. 

The efficiency of these oil-powered vehicles has improved significantly in the last decade and is only likely to continue to improve as long as they are permitted to be sold. A more efficient vehicle will mean that it consumes less fuel, which could subsequently decrease the demand for oil. 

It is the hope of environmental experts that electric vehicles will eventually contribute to the demise of the oil industry. However, because of their hefty price tags and the fact that the world is currently so heavily reliant on oil-powered vehicles, they are likely to still only account for a small percentage of the world’s total vehicles in 2035.  

For the next 20 years at least, electric vehicles are very unlikely to affect the oil industry. Although these sustainable vehicles are becoming more prominent on the roads in more developed countries, it is the growth of lower economically developed countries that should continue to fuel the industry for the next couple of decades.