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Transportation

High Oil Prices Giving Lift to Electric Drive: Interview

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Electric vehicles (EVs) are "extremely close" to an inflection point in which they will be competitive against conventional cars — and high oil prices are speeding up that timeline, the CEO of EV car rental company UFODRIVE, Aidan McClean, tells Energy Intelligence. For example, in UFODRIVE's home market, Europe, EVs are deepening their reach into the mainstream market. Fully battery electric car sales surged to around 10% of all cars sold in the first quarter of this year, up from 5.7% in first-quarter 2021. Sales of all kinds of electric cars — including battery electrics, plug-in hybrids and hybrids — soared to 44% of the total, ahead of both gasoline and diesel cars. Although there are some remaining barriers to wider uptake, these can be overcome as they become increasingly competitive against internal combustion engine (ICE) vehicles, McClean says.

Topics:
Electric Vehicles, Mobility
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