The pricier, the better: Crude oil’s surging prices may ironically hurt Big Oil by making EV investments more attractive

Oil prices push India EV plan

Rising oil prices boost India EV plan; China firm bags India bus contract; “Half the world bus fleet will be electric” by 2025

Rising oil prices an EV impetus for India? A Niti Aayog (Centre’s planning body) study says India would need nearly 1.6 billion metric tonnes of petrol and diesel to fuel passenger transport from 2017-2030. This would cost nearly $670 billion, and import bill of roughly $550 billion. While India’s EV target through 100% domestic manufacturing of batteries would require at least 3,500 GWh of batteries at cost of $300 billion from 2017-2030 — “less than half the cost of the avoided oil imports.”

Warren Buffet-backed China’s leading EV firm BYD will only focus on making e-buses for India for now, even as “Indian auto makers approached” them for cooperation in passenger cars. BYD has partnered with Hyderabad-based Goldstone. They recently bagged contracts for electric buses under the Faster Adoption and Manufacturing of Hybrid & EVs (FAME) scheme that offers up to 60% subsidy on e-bus procurement.

Electric buses will triple in numbers to 1.2 million by 2025, and 99% of them will be in China. Nearly half (47%) of the global state bus fleets will be electric by 2025, according to Bloomberg New Energy Finance.

EU to go for low 15% cut in truck emissions; China EV sales take off; Tesla chief snubs Wall Street analysts

EU will propose a low 15% cut to trucks’ emissions within seven years, rejecting calls for more ambitious targets. Transport is the only sector in which emissions are growing in EU, after cuts in power and agricultural sectors.

Meanwhile China is plunging ahead in EV sales: 73,000 sold in April alone. Comparatively, U.S. EV sales in April were mere 19,500.

Electric car sales rise 47% in EU

In EU the first quarter of 2018 witnessed diesel car sales falling 17%; petrol rising 14.6%; electric +47%. In total, 69,898 electrically-chargeable vehicles (ECV) were registered from January to March 2018 (+47.0%). The French electric car market scored 2,833 registrations in April, up 34%.

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