The implementation of electric busses into public transit fleets continues to grow – and it’s happening too quickly for the oil industry. Obviously the oil industry doesn’t like sustainable energy sources; however, public transit systems do. The efficiency gains of an electric bus fleet are evident and as a result less oil is being consumed. Chinese cities are the quickest at buying up electric busses and as a result the costs of adding these efficient vehicles to a fleet have gone down globally.
For every 1,000 battery-powered buses on the road, about 500 barrels a day of diesel fuel will be displaced from the market, according to BNEF calculations. This year, the volume of fuel buses take off the market may rise 37 percent to 279,000 barrels a day, about as much oil as Greece consumes, according to BNEF.
“This segment is approaching the tipping point,” said Colin Mckerracher, head of advanced transport at the London-based research unit of Bloomberg LP. “City governments all over the world are being taken to task over poor urban air quality. This pressure isn’t going away, and electric bus sales are positioned to benefit.”