There is a lot of handwringing on display at the Cop28 climate conference in Dubai about the slow pace of reducing the consumption of fossil fuels to fight climate change. But one positive that delegates can point to is the growing fleet of electric vehicles worldwide that is already making a surprisingly big dent in demand.
Growing sales of EVs in recent years have led forecasters to speed their projections for when global oil use will peak, as public subsidies and improved technology help consumers overcome the sometimes eye-popping sticker prices for battery-powered cars, according to industry experts. The Paris-based International Energy Agency (IEA), a grouping of 29 industrialised nations, expects world oil consumption to hit its zenith at the end of this decade at 103 million barrels per day, after making regular adjustments from its 2017 forecast of a nearly 105 million bpd peak in 204
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Car Car Latest News, Car Car Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Africa to Have Over 500 Charging Stations for Electric VehiclesMotorists who have shifted from internal combustion engine (ICE) vehicles to new energy vehicles (NEVs) are set to have access to more than 500 charging stations on South Africa’s major roads by the end of this year. Mercedes-Benz South Africa (MBSA) has confirmed its investment of R35 million to roll out the installation of more than 127 charging stations across the country.
Source: Moneyweb - 🏆 5. / 77 Read more »
Concern as database fails to pick up all written-off vehiclesSambra disappointed at insurance industry extension of agreed timeline for the inclusion of uneconomical-to-repair vehicles.
Source: Moneyweb - 🏆 5. / 77 Read more »
Deep Dive into Regulated Investment VehiclesOn the back of the recent BHI Trust scandal, which has rocked the investment world and realised billions of rand lost, we look at some of the investment signs that investors should take caution of and look at some of the safeguards investors should consider when choosing a financial product or investment. Notably, the distinction between regulated and unregulated options becomes increasingly apparent. The crucial role of financial regulators is highlighted, emphasizing the advantages of investing in regulated vehicles.
Source: Moneyweb - 🏆 5. / 77 Read more »
Electric Cars in South Africa Show Comparable Carbon Emissions to Petrol or Diesel EquivalentsA recent comparison by MyBroadband has shown that electric cars in South Africa have similar or lower carbon emissions compared to petrol or diesel equivalents. However, the country's reliance on coal for electricity production poses a challenge in reducing harmful emissions.
Source: mybroadband - 🏆 11. / 67 Read more »