Electric 2- & 3-wheelers disrupting oil

From Teslarati:

The world’s oil companies are taking a hit due to electric modes of transportation and their increasing popularity in today’s world. Studies from BloombergNEF indicated that EVs are taking around one million barrels of oil consumption away from the world. Although this figure is only 1% of the 100 million barrels per day consumption rate from 2019, it is still something.

It must be highlighted that most of the impact of oil consumption is coming from something other than electric cars. In fact, two and three-wheeled vehicles powered by electric batteries are affecting commercial oil use on a larger scale more than any different mode of sustainable transportation currently.

Bloomberg’s Nathaniel Bullard stated that electric bikes, trikes, and scooters are disrupting global oil consumption on a massive scale. In 2020, this category of transportation has accounted for around 60% of avoided oil consumption. According to further estimates from BloombergNEF, it will continue to lead in oil consumption until 2030.

Interestingly enough, scooters and other small-scale forms of transportation are displacing more oil and contributing to positive environmental awareness on a larger scale than luxury electric cars.

In previous analyses, BNEF highlighted that electric 2- and 3-wheelers already have sticker prices close to or equal to their petrol equivalents.  This is because they are much lighter than cars, and so new much smaller batteries than EVs.  Also they need less range.  They aren't designed for long-distance travel.  Like the Microlino in Europe.

Many of these 2- and 3-wheelers are produced and sold in Asia.  India is the world's largest producer and exporter of 3-wheelers.  I got these images from Walk Through India.

Bajaj Auto, India (and the world's) largest manufacturer of 3-wheelers

Piaggio Ape (= bee).  Italian name but Indian manufacturer.