Why oil's march toward $100 is coming at the right time for electric cars

Oil’s march toward $100 a barrel is coming at just the right the time for auto makers investing billions in the switch to electric cars.

Fuel prices reached a four-year high last month, concentrating consumers’ minds on the relative costs of internal combustion versus electric motors. For companies preparing to bring a record number of electric and hybrid models to market in 2019, oil’s rally could turbocharge demand.

“The higher the price of oil the more tailwind we’re going to have behind electric cars,” said Carlos Ghosn, chairman Renault SA and Nissan Motor Co. said at the Paris Motor Show on Wednesday.

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