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Castrol took the pulse of automotive leaders and consumers

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Castrol, one of the world’s leading mineral oil brands, announced the results of the electric vehicle research conducted with 10 thousand consumers and 100 sector managers who directed the automotive industry in 10 countries, including Turkey. Castrol’s Turkey, Ukraine and Central Asia Manager Ayhan Köksal and Marketing Manager Nilay Tatlısöz conveyed the information about the electric vehicle world of tomorrow, which was revealed in the research titled ‘Capturing the time of the future’.

Castrol Turkey, Ukraine and Central Asia Manager Ayhan Köksal pointed out that transportation has become electrified with the technological revolution that started in the world, and said that the automotive division has undergone a major transformation. Stating that many countries participating in the research aim to end the sales of fuel-oil and diesel-powered vehicles with the prestige of 2040, Köksal said that, according to the 2022 bp Power Outlook Report, the share of electric vehicles in new vehicle sales will reach 50-70 percent in 2035 and around 90 percent in 2050. He said he would come out. Koksal said:

It is predicted that there will be 2 billion or more electric vehicles in the global vehicle park by 2050. We are in an exciting time for the automotive industry. As Castrol, we go beyond a lubricant brand and turn into a maintenance brand, while we continue our investments and works with the aim of growing with our customers and business partners, of which we are analysis partners. We are working with our industry partners to implement next-generation technologies and accelerate the transition to electric vehicles. Electric and hybrid vehicles also need high-tech fluids and greases, as do vehicles with internal combustion engines. We are taking sides in the revolution with our e-liquids we developed in China, Germany, England and America, where the electric vehicle market is growing rapidly. Our e-liquids produced under the Castrol ON brand are used in the first filling of two out of every three electric vehicles produced in the world. As Castrol, we closely monitor the rapidly developing electric vehicle technology and increase our R&D investments for new technologies and products. We will invest approximately $60 million in the electric vehicle battery test center and analytical laboratory to be established at our Pangbourne research center in the UK.”

R&D expenditures will triple in 10 years

Announcing the results of the Research conducted with 100 senior executives from 10 thousand consumer and automotive manufacturer companies in Australia, New Zealand, China, France, Germany, India, Japan, Sweden, Norway, Finland, Denmark, England, USA and Turkey, Castrol Turkey, Ukraine and Turkey. Central Asia Marketing Manager Nilay Tatlısöz noted that with this research, they aim to see how the automotive sector looks at the net zero goals set by the states. Tatlısöz said that the research reflects the breakthroughs of companies towards these purposes and the approach of consumers to electric vehicles, and they think that it will benefit the sector to manage the ‘electric revolution’.

While 53 percent of the consumers who participated in the research say that they will consider buying an electric vehicle next time, 99 percent of the consumers who use electric vehicles say that they will buy an electric vehicle next time.

The highlights of the research are as follows:

97 percent of industry executives believe their companies will be ready for government-mandated deprecation of internal combustion engine vehicles. But only 40 percent say their companies are currently ready to transition from combustion to electric. Only 8 percent of all automotive executives believe their supply chain is ready.

66 percent of global automotive executives say the transition to electric vehicles is the number one strategic priority for their companies.

This priority is reflected in the R&D numbers. In 2015, an average of 11 percent of R&D expenditures focused on electric vehicles, and 39 percent on internal combustion vehicles. Today, this ratio has nearly doubled to 21 percent. Branch managers predict that the rate will increase to 31 percent by 2025 and triple in 10 years. If hybrid vehicles are also taken into account, it is assumed that by 2025, more than 70 percent of R&D spending will be focused on electric vehicles and hybrids.

In this period, R&D expenditures for internal combustion vehicles are expected to decrease to 15 percent.

According to 63 percent of industry executives, government phasing out goals for internal combustion vehicles are the number one factor accelerating industry transition and spending on R&D. According to executives, the second factor accelerating the transition to electric is net zero goals (57 percent), and the third is consumers’ sustainability concerns (35 percent).

According to automotive executives, the biggest problem that slows down the transition to electric vehicles stands out as high-cost batteries with 56 percent. Access to charging points (43 percent), shortage of technical staff (40 percent) and other barriers.

From the consumer’s perspective, drivers in countries including Turkey in the middle point to less air pollution, lower driving costs and the possibility of charging at home as factors that accelerate the transition to electric. Barriers are listed as the lack of ultra-fast charging, access to charging points and range concerns.

One out of every two people in Turkey wants electric

More than half of the world’s car-owning consumers want to buy an electric vehicle next time. China is the country with the highest number of people who want to buy electric vehicles with 80 percent.

Consumers in Turkey also express their intention in the same direction as the global trend. 49 percent of want their next vehicle to be electric. With this ratio, Turkey is ahead of France, Australia – New Zealand, USA, India and Germany.

The main reason behind the behavior of consumers in Turkey in this direction stands out as reducing air pollution in urban areas with 88 percent. Other reasons are ‘the introduction of new electric vehicle models’ (85 percent), ‘electric vehicles are believed to have a better integrated technology than petrol or diesel vehicles’ (84 percent), and ‘lower carbon emissions compared to petrol or diesel powered vehicles. spread’ (82 percent).

Cost worries disappear

There is a decline in the price concerns of consumers about electric vehicles. 78 percent of electric vehicle users in the world believe that the total cost of owning an electric vehicle is lower than that of a fuel or diesel vehicle, considering its lifetime.

61 percent of Turkish consumers who participated in the survey also think that the total cost of an electric vehicle (taking into account tax, fuel and maintenance costs) is lower than an equivalent internal combustion vehicle.

The first issue that creates concerns for consumers in Turkey about electric vehicles is charging infrastructure. 70 percent of non-electric drivers believe that the charging infrastructure is not sufficiently widespread. The scarcity of model options (65 percent) and the inadequacy of government incentives (64 percent) stand out as other topics.

BOX 1

Norway is the country most ready for electric vehicles

Castrol Turkey, Ukraine and Central Asia Marketing Manager Nilay Tatlısöz pointed out that there is a mentality revolution about electric vehicles in the world and in Turkey. Tatlısöz said, “There is an increase in information about the trend of using electric vehicles in all of the countries surveyed. According to the Period Index made by Economist Impact and supported by bp, the country closest to transportation with purely electric vehicles is Norway (index score 66). Norway, which will end its internal combustion vehicle production in 2025, is followed by China (55 points) and Germany (52 points).

BOX 2

Castrol ON works in Turkey in November

Castrol Turkey, Ukraine and Central Asia Manager Ayhan Köksal said that as Castrol, they are working with the industry for the healthy development of the growing electric vehicle market in Turkey and for electric vehicles to perform at a high level for a long time. Köksal stated that as of November, Castrol’s Castrol ON e-liquids produced for electric vehicles will be available in the Turkish market. Köksal said, “We are working with our cutting partners to accelerate the transformation and connect to the electric world of the future. We aim to turn technological development into benefits by collaborating with the best of the automotive department. Castrol ON e-liquids offer longer range, faster charging, and longer life to solve the problems faced by the industry. We will support the transition to electric with these products in Turkey very soon,” he said.

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