Tesla manufactured 241300 electric vehicles in Q3 of 2021 and Crude oil prices by end of 2023 may tumble below 65 USD per barrel.
Most of the cars in Europe, USA, UK, China will be turned into electric cars.
Even companies like Toyota, Chevrolet, Honda, Hyundai, Nissan, Ford, Tata Motors, Kia Motors, Audi started producing electric vehicles but not at the velocity of Tesla.
Most of the police departments may go for Tesla vehicles as they are highly secured.
In the long term crude oil demand reduces drastically. Even globally climate change related initiatives also result in reduction of use of petrol and diesel vehicles. So we assume by end of 2023, demand for crude oil will reduce drastically due to increase of electric vehicles.
Actually crude oil may tumble much below the 65 USD per barrel.