The report looked ahead to 2040 and forecasted that oil will still remain the world’s foremost fuel source. The report also wagered that hybrids will make up about 40-perecent of the world’s vehicle fleet by 2040, making up more than 50 percent of new car sales. As it presently stands, hybrids comprise nearly three percent of new car sales.
ExxonMobil also anticipates that electric and plug-in hybrids will see sales growth but will still be held back by cost and limited range hurdles according to Green Car Congress.
If the ExxonMobil report is correct, this means Volkswagen has things right. The German automaker puts great emphasis on diesel as the fuel of the future. Volkswagen sees a global automotive landscape populated by diesel hybrids, much like its new XL1 model.
Adding to diesel’s future growth is increased demand for commercial transportation in addition to light-duty vehicle fuel efficiencies, according to ExxonMobil.
While we take the ExxonMobil report with a grain of salt, as its success is based upon increasing fossil fuel consumption, we tend to agree with its findings. Where we differ, though, is in its less-than-optimistic view of EVs and plug-in hybrids.
With cars like the aforementioned VW XL1 and the Tesla Model S, we see a more diversified and successful future plug-in and EV market.
