Exxon Mobil: Overly Optimistic About Oil Market? - Exxon Mobil Corporation (NYSE:XOM)

They found that costs of producing EVs were far lower than previously thought but there is still great potential to make further savings, driving down the price of electric cars. The cost of owning an electric car will fall to the same level as petrol-powered vehicles next year, according to bold new analysis from UBS which will send shockwaves through the automobile industry. Some energy companies seem better prepared than others, some (like Total and Shell) are even investing in alternatives themselves. And then there is India, which aims to sell only EVs by 2030. With the likes of China and India announcing a shift to EVs, car companies have to oblige.

First found on: seekingalpha.com