The Oil and Gas Climate Initiative said it was putting money into Achates Power, a U.S. company that promotes a high-efficiency combustion engine it says increases fuel efficiency while reducing greenhouse gasses.
Shell wants 20% of profit margins from fuel sold in its retail forecourts to come from vehicles that don’t burn diesel or gasoline by 2025, said John Abbott, the company’s top executive of its downstream business.
Electric trucks for local deliveries will probably exceed a 5% market share by 2025, according to the head of the VW Truck & Bus division. That compares to a forecast of about 25% for battery-powered cars.
Almost 50 new pure electric-car models will come to market globally in the next five years, including vehicles from Daimler AG and Volkswagen AG, and the reasons for chasing Tesla stretch from politics to show business.
California requires automakers to sell electric and other non-polluting vehicles in proportion to their market share — and if they don’t sell enough, they have to purchase credits from competitors to make up the difference. Not many folks are happy.