Try to predict where oil demand will go:
Volkswagen is the latest car maker to announce a move to electrify its entire range of automobile offerings: The car maker will provide either hybrid or electric versions of every one of its 300 models by 2030, it announced today ahead of the Frankfurt Motor Show in German.
VW’s not the first to make a similar commitment — and in fact Daimler’s Mercedes-Benz announced it was going to do the same by 2022 earlier today. But the Volkswagen Group’s vehicle range is quite a bit larger than Mercedes-Benz’s, which makes this a more significant overall commitment.
By 2025, Volkswagen plans to offer 80 new electric vehicles across its group and sub-brands, which include Audi, Bentley, Bugatti and the Volkswagen brand itself. VW has committed to spend nearly $23 billion U.S. on getting this plan in place via zero emissions technology investment, and it also said it would commit more than $55 billion toward purchasing batteries to provide power for these vehicles.