Shifts in personal car ownership are at the forefront of the energy transition and electrification of the passenger car fleet is one of the main decarbonization pathways in many markets. As battery technology improves and EVs become more cost-competitive, EVs are gaining traction in many markets and with that comes concern about the future of oil demand in the passenger car segment. In which markets will EVs gain share fastest? Is EV adoption scalable? Will EVs bring forward peak demand?
Hydrogen could play a major role in the transition to a low-carbon economy, but only if costs are significantly reduced. While the cost of hydrogen from electrolysis has continued to fall, there is also potential for major reductions along the value chain. How can this potential be turned into reality and how quickly?