Credit: CNBC

Exxon Mobil CEO says every new vehicle in the world will be electric by 2040

Written by Cláudio Afonso | | LinkedIn | Twitter

In an interview with CNBC, Exxon Mobil’s CEO Darren Woods talked about the energy transition and climate change. When commenting on the use of electric vehicles and the ramp-up in sales, the CEO of the oil giant said he believes that “every vehicle in the world will be electric” by 2040.

Wood added that the company projected that, by then, the oil demand “will be what it was back in 2013 – 2014” and that Exxon Mobil was “pretty successful” during those years. The CEO said that the company knew that the “change would come at some pace” adding that it is “not going to break the business and the industry”.

Recently, the European Parliament voted for an effective EU ban on the sale of new combustion engine cars from 2035. The proposal passed by 339 votes to 249 with 24 abstentions at a session in France. In the European Union, vehicles are responsible for 12 percent of all CO2 emissions.

The automakers will now have to cut carbon-dioxide emissions by 100 percent by the middle of the next decade and also a 55 percent reduction in CO2 from automobiles in 2030 compared with 2021.

Written by Cláudio Afonso | | LinkedIn | Twitter