Electric car revolution: Is it coming sooner than accepted?
Jul 12: Is the electric car revolution going to be upon us sooner than was thought earlier? 8Fresh calculations seem to show that the breakeven lifetime cost of an electric vehicle in relation to a conventional car will take place sometime in 2020. 8Thereafter the cost will be negative going ahead. 8A calculation is also made of crude oil saved as a result of the switch to electric cars as well as on account of fuel economies in conventional cars, going up to 2040. 8Indian oil companies will have to take these projections seriously, particularly in the light of the already stated objective, through perhaps unreachable, of going entirely electric by the year 2030. 8On the energy side, the emergence of smart grids, high performance renewable energy and storage technologies holds the potential to transform energy systems with a rapidity and scope that perhaps industry actors and politicians are not yet grasping 8In this scenario, the peak, plateau and decline in global oil demand is slated to come about in 10 years time. Click on Reports to find out more.