Mobility and Transportation

The transportation sector's electrification shows mixed progress. In China, electric vehicle sales are accelerating, and the country has swiftly emerged as an EV manufacturing and export powerhouse. In the US and Europe, sales growth has slowed, and legacy auto companies are paring back their EV ambitions. The rate of EV adoption over the next decade will be pivotal for the energy transition and for oil demand. As the market evolves and fuels for the mobility sector diversify, energy, power, auto manufacturers and technology companies will develop strategies to low-carbon fuels for transportation systems but will also have to grapple with major questions in terms of consumer demand and government policies.