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“The cost advantage for electric vehicles versus a gasoline car is fast diminishing here in Europe, and I'm really wondering to what degree that will begin to ...

The SMMT nevertheless noted that "growth in this segment is slowing, with a year-to-date increase of 48.8%." and we think the next eight years will … 'we need oil and gas to do the clean transition, we need that bridge.'" "We see that in the 12 month trailing auto sales figures coming out of the U.S. hit 10,006 in August 2022, a year-on-year jump of 35.4%. "And … "I, actually, am not someone who would tend to, sort of, demonize oil and gas, to be clear," Musk said. "They sit in the physical world … "I mean, the cost advantage for electric vehicles versus a gasoline car is fast diminishing here in Europe, and I'm really wondering to what degree that will begin to impact sales for EVs." With European economies facing an energy crisis and soaring prices over the coming months, there have been concerns in some quarters that the increasing cost of charging an EV will disincentivize uptake among consumers. - "The cost advantage for electric vehicles versus a gasoline car is fast diminishing here in Europe, and I'm really wondering to what degree that will begin to impact sales for EVs," Saxo Bank's Peter Garnry tells CNBC. [Elon Musk](https://www.cnbc.com/elon-musk/) about the need for [more oil and gas](https://www.cnbc.com/2022/08/29/elon-musk-says-world-still-needs-oil-and-gas.html) reflect a broader concern that the uptake of electric vehicles will be hampered by rising electricity prices, according to the head of equity strategy at Saxo Bank.