Moving Ireland Towards Electric Wheels
“IF [OIL] is less than $70, we’re going to have a problem. If oil’s at $200 the economic equation’s very easy.” That’s the risk for Renault’s €4 billion electric car strategy, according to its chief executive Carlos Ghosn.
The company plans to have plug-in electric models on the road by early next year. If analysts are right and oil works its way closer to $80 this year, Ghosn may be lauded, but it’s not a foregone conclusion that prices might dip again.
Nevertheless the motor industry is eager to remove itself from the carbon debate. Shackled to the oil industry by the internal combustion engine for a century, various opportunities have been explored, but invariably the infrastructural spend and overhaul of the entire global fleet hasn’t made it a feasible proposition.
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