Hyperdrive
Oil’s March Toward $100 Is Just What Electric Cars Need
A record number of new electric models will hit the market next year as consumers face higher gasoline prices.
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Oil’s march toward $100 a barrel is coming at just the right the time for auto makers investing billions in the switch to electric cars.
Fuel prices reached a four-year high last month, concentrating consumers’ minds on the relative costs of internal combustion versus electric motors. For companies preparing to bring a record number of electric and hybrid models to market in 2019, oil’s rally could turbocharge demand.