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With oil demand likely also to peak next year, what does the rapid electrification of transport mean for China’s service stations?
After taking into consideration how climate risks could impact its balance sheets, the Malaysia-based company diversified its businesses from the oil and gas sector and pivoted to green renewables. What lies behind the decisions it made?
The firm can't just dictate that drivers go electric, says Sean Gabriel Villoria, who is leading a push for more islands across the Philippines to adopt the use of electric-powered tricycles. It also needs to help raise their incomes.
Malaysia needs a massive shift towards electric vehicles to decarbonise its transport sector and achieve its goal of becoming a carbon-neutral nation by 2050. However, high vehicle prices and a lack of infrastructure are hampering efforts. Malaysia needs a long term and sustainable solution to develop its e-mobility ecosystem, say analysts.
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