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This Is Why Dangote Is Not Worried About The Electric Car Revolution by TechCapon(m): 7:54am On May 16
TechCapon



A lot of my readers have sent in multiple questions. Asking me about the electric car revolution that is taking place and how it would affect the new massive Dangote refinery being built in Lagos. In fact, in one of the emails I received, the guy asked if Dangote is not aware that the world is gradually moving away from gasoline cars to fully electric cars. Funny question. Today I want to take out time to address this major issue.

First of all, anyone, who tells you there is no real threat from the electric car revolution and it can’t affect huge oil companies and refineries are telling you a BIG LIE. Analysts have predicted that by 2025, there will be 26 million electric cars on the road. That is 26 million cars that will NOT be using fuel. That also means the demand for oil and gasoline will reduce as well. There is a serious threat from this revolution but the impact isn’t really much on the oil industry yet. But with time the impact will be felt.



Tesla alone sold a jaw-dropping 245,240 cars in 2018 with the Model 3 the best selling electric car in the world with over 145,000 units sold.

Interestingly that figure will continue to rise every year with more car companies like Nissan, Ford, Audi, Mercedes Benz, Volkswagen, GM, Toyota etc joining the electric car bandwagon. That means the more electric cars that are sold, the less fuel will be consumed by car owners worldwide.

Now about Dangote refinery, the truth is that even though he knows the threat is there, he is not really bothered about it. At least not yet. That’s because the electric car industry is still very small right now compared to the oil industry.
Re: This Is Why Dangote Is Not Worried About The Electric Car Revolution by TechCapon(m): 7:54am On May 16
TechCapon



NUMBER ONE: IT WILL TAKE A VERY LONG TIME FOR ELECTRIC CARS TO TAKE OVER

Even though there are tremendous benefits of owning an electric car today, it’s still a minority in the world of cars. Electric cars are becoming cheaper, have more driving range, easier to maintain and more sophisticated. We know, but it will take decades for electric cars to begin to phase out normal gasoline cars in the market by then Dangote must have made lots of profits from his new refinery. That’s because the car companies are very slow in adapting to the new technology of manufacturing electric cars. So yes gasoline cars are not going anywhere anytime soon. In third world countries like Nigeria and most African countries, it will take even much longer for electric cars to gain any foothold.

NUMBER TWO: THERE ARE NUMEROUS PRODUCTS THAT CAN BE REFINED FROM CRUDE OIL APART FROM FUEL OR GASOLINE.



Crude oil is a very rich natural resource. It is a blend and mixture of various hydrocarbons that occur in the form of a black liquid called petroleum. So even if electric cars saturate the car market in future and people are no longer buying fuel. Refiners still have lots of other products they can make from crude oil and generate their profits. So if demand for fuel reduces, Dangote refinery will just change what they produce and keep making their profit in billions.

Crude oil is a blend of different hydrocarbons and products which are all very useful. There’s no waste product as far as crude oil is concerned. Apart from gasoline, there’s aviation fuel to produce, petrochemicals which are used as raw materials and sold to other companies. Plastics also come from crude oil, vaseline, diesel, kerosene, wax, petroleum jelly, insecticides. Ammonia for fertilizers, lubricating oil. Asphalt and bitumen which are used for building roads and bridges. At least I’ve not seen an electric aeroplane yet.



The industry is full of engineers and scientists who can adapt to any change. Embrace new technology and discover new ways to stay in business. So Mr Dangote is a very intelligent man and knows exactly what he’s doing. When he started building the refinery even though he knows that electric cars are coming. Yes, electric cars are coming but it will never and can never put the oil companies or Dangote refinery out of business. Not in a million years.

SOURCE:https://techcapon.com/this-is-why-dangote-is-not-worried-about-the-electric-car-revolution/

Lalasticlala
mynd44
dominique

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Re: This Is Why Dangote Is Not Worried About The Electric Car Revolution by MJBOLT(m): 7:57am On May 16
an electric aeroplane sounds funny,i dont see that ever happening.electric cars can only work in countries with stable power supply

1 Like

Re: This Is Why Dangote Is Not Worried About The Electric Car Revolution by cinoedhunter: 7:58am On May 16
After he has invested so much in the oil industry and besides, most Nigerian politicians will benefit from his refinery .... why should he be bothered ? cheesy

3 Likes

Re: This Is Why Dangote Is Not Worried About The Electric Car Revolution by TechCapon(m): 8:01am On May 16
cinoedhunter:
After he has invested so much in the oil industry and besides, most Nigerian politicians will benefit from his refinery .... why should he be bothered ? cheesy
Ben Bruce is busy lamenting that our senators live in stone age thats why they refused his electric car bill. He doesn't know that there's no lobbying machine in Nigeria as strong as the oil companies and marketers. They have lobbied our Senate with cash to their favor behind his back grin

4 Likes

Re: This Is Why Dangote Is Not Worried About The Electric Car Revolution by cassidy1996(m): 8:07am On May 16
i need a job

1 Like

Re: This Is Why Dangote Is Not Worried About The Electric Car Revolution by Jayslicky: 8:08am On May 16
Dangote cannot run out of business in a third world country like Nigeria, it will take very long before electric cars will have at least 50% of cars in the country by then dangote has made almost double of what he invested.
Electric cars in Nigeria may be a failure due to the electricity problem we have in the country, many people may still go for petrol even with the arrival of electric cars.

4 Likes

Re: This Is Why Dangote Is Not Worried About The Electric Car Revolution by TechCapon(m): 8:15am On May 16
MJBOLT:
an electric aeroplane sounds funny,i dont see that ever happening.electric cars can only work in countries with stable power supply
believe me electric cars will work well in Nigeria even with our epileptic power supply. These cars come with fast superchargers that can charge the car full in less than one hour. Are you telling me that you don't up to one hour electricity in a day?

3 Likes

Re: This Is Why Dangote Is Not Worried About The Electric Car Revolution by TechCapon(m): 8:16am On May 16
cassidy1996:
i need a job
you'll get a job soon.

5 Likes

Re: This Is Why Dangote Is Not Worried About The Electric Car Revolution by cassidy1996(m): 8:19am On May 16
TechCapon:
you'll get a job soon.
Amen!!! thanks

2 Likes

Re: This Is Why Dangote Is Not Worried About The Electric Car Revolution by Tolani0167(m): 8:37am On May 16
Yes o
Re: This Is Why Dangote Is Not Worried About The Electric Car Revolution by yungsmart(m): 8:41am On May 16
Simple : Dangote is not worried because he knows electric car can't have any effect on Nigeria until 2065., it's the bitter truth.
Same way Nigeria is finding it very hard to migrate to 4g when the world is already in 5g.
I just tire for this country

3 Likes

Re: This Is Why Dangote Is Not Worried About The Electric Car Revolution by hisgrace090: 8:42am On May 16
Once Nigeria is concern, with electric cars taking over or not price of focil fuel will keep on increasing.

Trust our leaders when it comes for distributing pain.
Re: This Is Why Dangote Is Not Worried About The Electric Car Revolution by Ekez(m): 9:03am On May 16
Nigeria no get power,so why him go dey burder bout electric cars,in fact how many nigerian can afford an electric car
Re: This Is Why Dangote Is Not Worried About The Electric Car Revolution by TechCapon(m): 9:30am On May 16
yungsmart:
Simple : Dangote is not worried because he knows electric car can't have any effect on Nigeria until 2065., it's the bitter truth.
Same way Nigeria is finding it very hard to migrate to 4g when the world is already in 5g.
I just tire for this country
true but that refinery is not going to be serving Nigeria alone. Other neighboring countries will benefit from it as well. It's too big to be only for one country
Re: This Is Why Dangote Is Not Worried About The Electric Car Revolution by TechCapon(m): 9:31am On May 16
Ekez:
Nigeria no get power,so why him go dey burder bout electric cars,in fact how many nigerian can afford an electric car
lol. Electric cars are actually more affordable than those cars our politicians move around with. How much is Nissan leaf, or older models of tesla? We are just slow to adapt that's all.

2 Likes

Re: This Is Why Dangote Is Not Worried About The Electric Car Revolution by TechCapon(m): 9:33am On May 16
Jayslicky:
Dangote cannot run out of business in a third world country like Nigeria, it will take very long before electric cars will have at least 50% of cars in the country by then dangote has made almost double of what he invested.
Electric cars in Nigeria may be a failure due to the electricity problem we have in the country, many people may still go for petrol even with the arrival of electric cars.
partially true. Yes it would take a long time but it will not be a failure because by then the technology will be so advanced that few minutes of charging can last for days. Nigerians will run away from fuel cars by then because nothing like fuel scarcity and sleeping in petrol stations

Mynd44 Dominique

2 Likes

Re: This Is Why Dangote Is Not Worried About The Electric Car Revolution by Ekez(m): 9:35am On May 16
TechCapon:
lol. Electric cars are actually more affordable than those cars our politicians move around with. How much is Nissan leaf, or older models of tesla? We are just slow to adapt that's all.
oh thought that they are very expensive.
Re: This Is Why Dangote Is Not Worried About The Electric Car Revolution by TechCapon(m): 9:41am On May 16
Ekez:
oh thought that they are very expensive.
not at all. Brand new tesla model 3 is $35k. That's about 12 million which is even cheaper than a new highlander, Hyundai Santa Fe , mercedes or landcruiser. Price is not an issue, there are many Nigerians who can afford it

1 Like

Re: This Is Why Dangote Is Not Worried About The Electric Car Revolution by Chubhie: 10:00am On May 16
TechCapon:
believe me electric cars will work well in Nigeria even with our epileptic power supply. These cars come with fast superchargers that can charge the car full in less than one hour. Are you telling me that you don't up to one hour electricity in a day?
Thugs would go and sabotage those supercharger stations. That's how unique Nigeria is cry
Re: This Is Why Dangote Is Not Worried About The Electric Car Revolution by Barryseal: 10:45am On May 16
Jayslicky:
Dangote cannot run out of business in a third world country like Nigeria, it will take very long before electric cars will have at least 50% of cars in the country by then dangote has made almost double of what he invested.
Electric cars in Nigeria may be a failure due to the electricity problem we have in the country, many people may still go for petrol even with the arrival of electric cars.

Only a mad person will choose petrol cars to pay 140 per litre ahead of rechargeable cars.
Re: This Is Why Dangote Is Not Worried About The Electric Car Revolution by GlorifiedTunde(m): 11:28am On May 16
Great piece
Re: This Is Why Dangote Is Not Worried About The Electric Car Revolution by computerboy: 11:38am On May 16
TechCapon:
believe me electric cars will work well in Nigeria even with our epileptic power supply. These cars come with fast superchargers that can charge the car full in less than one hour. Are you telling me that you don't up to one hour electricity in a day?

I agree with you. Besides Nigeria is catching up with the rest of the world tech wise. We use latest gadgets, latest software, and even challenge them in programming contests. It's really one sector we're trying well.

The cars aren't that expensive plus with time they will start having used/toks ones which will even be cheaper for Nigerians and that will be final bye to petrol, same way we have dumped manual cars

My take on Dangote's decision will be the other products that the refinery will process, because if it's only fuel, I doubt Dangote will invest in it.

2 Likes

Re: This Is Why Dangote Is Not Worried About The Electric Car Revolution by TechCapon(m): 11:46am On May 16
computerboy:


I agree with you.
The way we rubbish our country is not actually as bad as it. Electric cars will work perfectly fine in Nigeria with the right maintenance
Re: This Is Why Dangote Is Not Worried About The Electric Car Revolution by computerboy: 11:50am On May 16
yungsmart:
Simple : Dangote is not worried because he knows electric car can't have any effect on Nigeria until 2065., it's the bitter truth.
Same way Nigeria is finding it very hard to migrate to 4g when the world is already in 5g.
I just tire for this country

Trust me it won't take as long as you think. Remember most Nigerians don't buy new. So as Tesla model 3 is about 12 million which is already affordable, think of how much the used one will sell, say by 2025... So don't be surprised to see most Nigerians going electric before 2030

2 Likes

Re: This Is Why Dangote Is Not Worried About The Electric Car Revolution by bularuz(m): 11:53am On May 16
Dear friends, Change is the only constant thing in life, nothing lasts forever

1 Like

Re: This Is Why Dangote Is Not Worried About The Electric Car Revolution by Ifeoluwaseun(m): 12:07pm On May 16
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Re: This Is Why Dangote Is Not Worried About The Electric Car Revolution by wonlasewonimi: 12:36pm On May 16
Sebi you just need to keep power bank in your trunk in case your battery run out

1 Like

Re: This Is Why Dangote Is Not Worried About The Electric Car Revolution by dyydxx: 12:39pm On May 16
TechCapon:
believe me electric cars will work well in Nigeria even with our epileptic power supply. These cars come with fast superchargers that can charge the car full in less than one hour. Are you telling me that you don't up to one hour electricity in a day?

No this is not correct. There are many problems militating against adoption in a place like Nigeria for another 50 years. it's not as simple as you make it sound. First of all, the superchargers are expensive and need to be built like stations, and the home chargers aren't as fast as the superchargers. Also, even a full charge car cannot drive you from Ikeja, Lagos to Challenge, Ibadan to and fro and that's without adding the go slow at redeem where you can spend more than 2hrs or more on a very busy day.

How many Nigerian's can afford a 12m car? what about after sale services? if it gets faulty who will repair? The Tesla car made now is self driving and once the software gets faulty that's it where will you repair it? Not to talk of the maintenance costs associated with the ware and tear because of our bad roads.

Ben Murray Bruce is an idealistic and that's not a bad thing but in reality we are miles away from adopting such a car.
Re: This Is Why Dangote Is Not Worried About The Electric Car Revolution by laivwire(m): 12:55pm On May 16
MJBOLT:
an electric aeroplane sounds funny,i dont see that ever happening.electric cars can only work in countries with stable power supply
Electric planes have been flying since the 1970s, do your research
Re: This Is Why Dangote Is Not Worried About The Electric Car Revolution by TANID(m): 1:15pm On May 16
Good To Hear But......

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