The Tesla Semi, the company’s electric truck has been touted by Elon Musk to have a 500-mile range and last a million miles. But if the company really can deliver a battery-powered big rig with a 500-mile range and lower lifetime costs than diesel vehicles, then a big chunk of future oil demand growth is in peril. Trucks are responsible for about 60% of the increase in global diesel demand since 2000, the report shows. Buses and trucks will drive a 2 million barrel-a-day increase in diesel demand from 2016 to 2040, and overall oil demand will keep growing, it said. Musk said his new electric truck “can transform into a robot, fight aliens and make one hell of a latte”.

Source: Mint November 17, 2017 14:26 UTC