Hyperdrive
Electric Buses Are Hurting the Oil Industry
- About 279,000 barrels a day of fuel won’t be needed this year
- China adds a London-sized electric bus fleet every five weeks
Electric Buses Are Hurting the Oil Industry
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Electric buses were seen as a joke at an industry conference in Belgium seven years ago when the Chinese manufacturer BYD Co. showed an early model.
“Everyone was laughing at BYD for making a toy,” recalled Isbrand Ho, the Shenzhen-based company’s managing director in Europe. “And look now. Everyone has one.”