What threatens the whole industry with the unprecedented popularity of electric cars?

What threatens the whole industry with the unprecedented popularity of electric cars?

November 19, 2019 0 By autotimesnews

According to a reputable Bloomberg agency, the lubricant industry may be at risk of its existence.

Due to the huge increase in electric machines, the need for these materials is lost. According to experts, the demand is reduced by 50-70% in contrast to internal combustion engines. According to experts, this industry may suffer the fate of Kodak, which could not quickly adapt to changes in the era of the photo industry.

The rapid increase in electric cars may already completely destroy this industry by 2025. But some manufacturers, namely Royal Dutch Shell and Petronas, nevertheless looking to the future, are introducing into their product range brands of lubricants designed specifically for electric vehicles.

At the moment, the global market share of lubricants is about $ 146 billion per year. Companies will have to actively adapt to new conditions.