InvestorQ : I am told that electric cars like Tesla are also going to impact crude prices. Is that really true?
Shreya Mashelkar made post

I am told that electric cars like Tesla are also going to impact crude prices. Is that really true?

Answer
user profile image
Ayushi Kampani answered.
2 years ago


Over the last 50 years, cars become increasingly more fuel efficient. The days of fuel-guzzling American cars are passé and the focus is on European, Japanese and Korean cars that are genuinely more fuel efficient. Then there is the threat of electric cars from companies like Tesla of the US. Tesla plans to increase its electric cars capacity by 40 times over the next 10 years. As electric car batteries mature and electric cars become more of a feasible business proposition, the demand for oil as a fuel could shrink further.