By 2040, every new car sold in the world will be electric

By 2040, every new passenger car sold in the world will be electric. This was stated by ExxonMobil CEO Darren Woods in an interview with CNBC.

At the same time, electric cars and hybrids accounted for only 9% of all global car sales last year, CNBC notes with reference to Canalys data. The increase in the number of electric cars relative to 2020 then amounted to 109%, it follows from them.

Oil demand by 2040, according to ExxonMobil calculations, will be at the level of 2013-2014 values. However, the company will continue to be profitable by this time, its head said.

In the context of the transition to electric vehicles and a reduction in demand for gasoline, a key role in maintaining the business of one of the world's largest oil companies, according to Woods, will be played by chemical products produced by Exxon Mobil, as well as industrial and biofuels. In turn, the synthetic materials produced by the company can be used to create electric vehicles, the CEO pointed out.