In its annual Outlook, ExxonMobil discusses the future of global energy demands and consumption and in this year’s edition, ExxonMobil believes that half of the vehicles on the road in 2040 will be hybrids.
We personally believe hybrids will rule the road long before 2040, especially when you have vehicles like Lincoln‘s 2012 MKZ Hybrid being sold for the same price as its gas-only variant.
Currently hybrid vehicles only make up one-percent of total vehicle sales, but with government fuel economy standards on the rise, more and more manufacturers are developing electric, hybrid and alternative fuel vehicles in order to meet the new standards. ExxonMobil is also predicting that electric vehicles will sport an inflation of $12,000 or so compared to its gas-only counterpart now and in the immediate future.
But we would argue against that, considering how quickly technology has already advanced with electric vehicles and the parts that are being used to build them. Electric vehicles right now carry about a $12,000 inflation compared to a conventional version, so we find it hard to believe that manufacturers won’t find a way to cut costs within the next five years, never mind 30.