In 30 years’ time hybrid cars will account for half of the market share, said Exxon Mobil in its latest annual energy outlook, according to Hybrid Cars magazine.
The energy company said it predicts hybrids and other vehicles powered with alternative energy will expand as the world seeks to mitigate emissions from transportation. These include hybrid, electric, fuel cell, natural gas and other types of fuel.
Exxon also predicts the increase in hybrid vehicles and more fuel efficiency will curb a rise in demand for energy in rich countries, and it will remain flat in developed nations through 2040. However, energy demand is projected to increase by nearly 60 per cent from now to 2040 in developing nations.
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