An electric threat to Caltex
Independent Financial Research
An electric threat to Caltex. The internal combustion engine faces its most serious threat in a century. The Shanghai Motor Show recently showcased 32 new models of electric car from Chinese and international manufacturers. The worlds second largest carmaker, Volkswagen, already sells six electric models in China and, within the next few years, plans to increase its fleet to 20. Toyota has gone a step further, releasing details of the first commercial hydrogen car, the Mirai (pictured), which will go on sale in December for around $70,000. Petrol engines wont die soon or easily but, with every major manufacturer in the world boasting an electric car program and prices tumbling, a turning point is near. (VIEW LINK)
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