U.S. near top of growing EV sales
Dec 27, 2018
Electric vehicle (EV) sales are growing at an extremely quick pace world-wide, with growth at over 60 percent annually in some markets. This is especially true in the U.S., China, some European countries and Japan. This current trend in these geographic areas will “certainly impact lubricant demand patterns and likely the way that lube marketers approach their business” according to Tim Sullivan, executive editor of “Perspectives on Electric Vehicles”. While some areas remain focused on combustible engines, in other regions the appeal of fully electric vehicles continues to grow.
The rapid growth pace of EV sales has concerns within the lubricants industry as they don’t run on engine oil. The electrification of vehicles will create new demands for transmission fluids and greases. Explore how the rapid growth of EV sales will continue to influence the lubricants industry here.
Why should you care?
If current trends continue, the lube industry may have to target development and focus on the lubricants the EVs do use like transmission fluids and greases.