Future of Electric Cars Hinges on $70 Oil

Renault-Nissan Alliance chief Carlos Ghosn believes all-electric cars will grab 10% market share by 2020.

Published: 16-Sep-2009

FRANKFURT -- Renault SA Chief Executive Officer Carlos Ghosn said the future of electric cars depends on a rebound in oil prices that may boost sales of the battery-powered vehicles he’s spending 4 billion euros ($5.9 billion) to develop.

“If it’s less than $70, we’re going to have a problem,” Ghosn said in an interview at the Frankfurt Motor Show. “If oil’s at $200 the economic equation’s very easy, and if it’s more than $200, even easier.”

Renault pledged yesterday to sell 100,000 electric cars by 2016 in Israel and Denmark, the first two countries to hire the Paris-based company’s U.S partner Better Place to roll out nationwide networks of battery-charging and swapping stations.


TREV two-place electric car

Student-built vehicle can do 0-60 in 10 seconds with top speed of 75 mph. Photo courtesy of University of South Australia.

smart electric car being recharged in Berlin

Aggressive driving and air conditioning could cut range of plug-in hybrids and electric cars in half, says Argonne researcher. Pictured is electric version of smart being 'charged' in this publicity photo at Berlin's Brandenburg Gate.

Jamie Lee Curtis takes delivery of second FCX Clarity fuel cell vehicle in USA.

Honda is focusing on affordable gasoline-electric hybrids and fuel cell technology. Pictured is actress/author Jamie Lee Curtis, the second USA customer to lease the FCX Clarity fuel cell sedan. Photo credit:Alex Berliner Berliner Studio/BEImages


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