Fitch has suddenly realised that EVs and battery technology poses a threat to oil investments
And the winner for the ‘No shit Sherlock’ prize this week goes to ratings agency Fitch. Fitch has suddenly realised that EVs and battery technology poses a threat to oil investments, presumably the very same oil investments they were rating as AAA+ only a couple of years ago.
The FT report the bleedin’ obvious here…
We think that the oil majors – and OPEC - have their heads firmly in the sand on this one. Once the demand for petrol and diesel cars declines, the pace of redirection of R&D into EVs will become even faster and investment in ICE vehicles will shrivel.
Your business could get on the right side of this trend, contact us for an informal chat here..