China, VW power electric vehicle surge
A startling convergence of auto industry and government policies suggest that electric cars could begin seriously challenging petroleum-powered vehicles far sooner than experts believed only recently.
- Volkswagen said yesterday that it will market 300 electric cars by 2030.
- China said over the weekend that it is getting ready to outright ban the old gas vehicles, although it has not set a date.
- And we now have three new longer-range, mainstream-priced electric vehicles on the market: the 150-mile Nissan Leaf, and the GM Bolt and Tesla Model 3, both exceeding 200 miles of range.
Why it matters: These developments help provide much more of the critical mass that's been missing in the EV equation. If consumers begin to buy these electrics in large numbers, they will hasten the global peak in oil demand, shaking up oil companies and petro-states alike. And EVs can help cut carbon emissions, acting as one part of the complex puzzle to prevent runaway global warming.