Rethink Energy’s definitive 30 year forecast on EVs and eMobility
With dramatic implications for oil and for investors
While oil executives (and some car execs too) play at being ostriches, burying their collective heads in the sand (presumably looking for more oil), the acceleration of Electric Vehicle uptake has gone into overdrive.
During Q3 2021 you were either proved ultimately right about the future or you were proved utterly wrong – the market has accelerated away from all existing forecasts – reality is happening faster than most people’s imagination.
In Q1 we were still hearing voices talking about how anything between one third and two thirds of Internal Combustion Engines cars would still be on the road by 2050, but by Q3, that particular fantasy was well and truly over – for many people in the oil industry and car industry – it was the wake up call they never wanted – for us at Rethink it was vindication that our forecast numbers were the only ones stacking up.
Now there is little doubt that oil is having it last hurrah, and that the key thing for owners of oil assets is to extract as much money from the market in the next 6 or 7 years as possible, because as soon as that, the entire market will lose all investor confidence and share prices will collapse.
By 2030 there will be significant bankruptcies of household names, as many of them have left it too late to move their businesses anywhere sensible. Debt holders will squabble over the remaining corpses, looking for assets worth buying cheap and turning around fast. They will find few.
This report is essential reading for anyone seeking to fully understand what is happening in the EV market from now till 2050. This includes those planning or investing in any aspect of transport, energy and property including manufacturers, charging networks, battery-makers, or one of the many vendors seeking to supply the EV market and infrastructure. Importantly the forecast is relevant to organizations investing in any area of the energy supply market such as utilities, renewable energy developers, existing oil suppliers, investors, traders, energy equipment manufacturers, grid-scale energy storage, developers, EPCs, energy companies, government regulators, lobbying firms and strategic decision makers.
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