Saudi Aramco Invests Heavily in Combustion Engines and Believes in Endless Demand as Electric Cars Slow Down

Written by Rafaela Fabris

Published on 09/07/2024 at 18:08

Imagem: MJ/Divulgação

Uma pessoa reagiu a isso.

While Electric Cars Slow Down, World’s Largest Oil Company Bets on the Future of Traditional Engines

Do you believe that combustion engines are on their way out? Well, Saudi Aramco does not think so! According to Folha de São Paulo, the largest oil company in the world has just made a bold move, heavily investing in combustion engines. Let’s understand this story.

Saudi Aramco, the largest oil company in the world, is betting that combustion engines will be around for a long time, even with the rise of electric cars. Last month, the oil giant acquired 10% of Horse Powertrain, a company focused on building these engines, for 740 million euros (R$ 4.3 billion). This partnership with Chinese Geely and French Renault aims to meet the demand from automakers that will stop developing their own engines.

Yasser Mufti, executive vice president of Saudi Aramco, explained that completely eliminating combustion engines would be very costly and complicated. He believes that these engines will still have a long life, especially considering factors such as accessibility.

ARTICLE CONTINUES BELOW

What Do Experts Say About Saudi Aramco’s Investment?

Matias Giannini, CEO of Horse, is also confident. According to him, by 2040, more than half of vehicles will still have some type of combustion engine, whether pure, hybrid, or plug-in. Horse is already securing contracts and developing new engines to meet environmental regulations.

The joint venture between Geely and Renault that formed Horse has 19,000 employees and 17 factories around the world, with a capacity to produce 3.2 million engines per year and a goal to reach 5 million. “No one is doing what we are proposing to do,” says Giannini.

Electric Cars vs. Combustion Engines

Saudi Aramco heavily invests in combustion engines and believes in eternal demand, while electric cars slow down — Horse, from Renault, begins production of components for hybrid vehicles in Brazil

Philippe Houchois, automotive analyst at Jefferies, stated that the transition to electric vehicles is slower than many expected. Smaller automakers, such as Honda and Nissan, may become clients of Horse. Toyota, for instance, is developing new smaller and more efficient hybrid engines.

Meanwhile, Saudi Aramco, the world’s largest oil company, is expanding its global network of fueling stations and investing in research to develop low-carbon and synthetic fuels. Recently, they purchased the lubricant brand Valvoline for US$ 2.65 billion, and all engines from Horse will use Valvoline products in their “first fill.”

A Sustainable Future for Combustion Engines?

Saudi Aramco believes there is still room for significant improvements in combustion engines, making them more competitive against electric cars not only in cost but also in sustainability. They are investing in research laboratories to develop cleaner and more efficient fuels.

So, will combustion engines really disappear, or do they still have a long way to go? Only time will tell, but Saudi Aramco is putting its chips on this bet.

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Eliseu

#21184

10/07/2024 13:47

Estou desenvolvendo um.novo conceito de motor a combustão interna.
Muito potente e leve para equipar drones grandes.

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Saudi Aramco Invests Heavily in Combustion Engines and Believes in Endless Demand as Electric Cars Slow Down

While Electric Cars Slow Down, World’s Largest Oil Company Bets on the Future of Traditional Engines

What Do Experts Say About Saudi Aramco’s Investment?

Electric Cars vs. Combustion Engines

A Sustainable Future for Combustion Engines?

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Saudi Aramco Invests Heavily in Combustion Engines and Believes in Endless Demand as Electric Cars Slow Down

While Electric Cars Slow Down, World’s Largest Oil Company Bets on the Future of Traditional Engines

What Do Experts Say About Saudi Aramco’s Investment?

Electric Cars vs. Combustion Engines

A Sustainable Future for Combustion Engines?

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An entire island in the Pacific wants to surround itself with a colossal barrier against the ocean to try to escape increasingly violent waves and not be swallowed by the sea in the coming decades.

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Peru built a tunnel at an altitude of 4,738 meters cutting through the Andes Mountains, and the road leading to it reaches 4,818 meters, making it the highest paved road in the entire world.

Seen from space, an image taken by an astronaut shows in Argentine Patagonia the exact point where a colossal glacier, a turquoise-blue lake, and a greenish arm of water meet, creating one of the rarest and most impressive landscapes in the region.

In the Saudi Arabian desert, the world’s largest green hydrogen plant is 80% complete and will use 4 gigawatts of solar and wind energy to produce 600 tons of clean fuel per day when it opens in 2027.

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