Electric Vehicles May Get a Boost From OPEC Decision
- Increase in crude price will improve economic case for EVs
- Cheaper gasoline hurt sales of electric cars in U.S. last year
BMW Goes All in With i3, i8 Electric Vehicles
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Electric car makers may breath a sigh of relief from OPEC’s decision to curb oil output, which if it holds may help tilt the argument in favor of greener transport.
Electric car sales stalled in the U.S. last year as gasoline prices fell 5.8 percent on average and demand for the motor fuel rose for the first time in six years. Rising oil prices, or even signs that the cost of gasoline won’t fall further, would help underpin the economic case for alternatives such as biofuels and electric cars, according to the International Energy Agency.