TOTAL S.A.TOT has launched two innovative line of fluids for electric and hybrid vehicles. These new fluids are the outcome of its extensive research work and will help the company to obtain a leading position in electric mobility.
Role of the New Fluids
The new fluids developed by TOTAL will meet the cooling and lubrication needs of the various components of these new types of engines of the electric and hybrid vehicles. In addition, these fluids will help to keep the vehicles in peak condition throughout their lifetime.
The new fluids are developed to provide a better solution for the specific issues linked to engines and transmissions with high rotation speeds, and the need to control heat exchange in electric batteries.
At present, two types of fluids are available to automakers: Total Quartz EV Fluid for light vehicles and Total Rubia EV Fluid for industrial & utility vehicles, as well as electric buses.
Higher Usage of Electric Vehicles
Vehicles using conventional sources of fuel are one of the major contributors of the rising pollution across the globe. Increasing awareness about pollution has resulted in the development of electric-driven vehicles, which help to lower pollution.
Per a report from International Energy Agency ("IEA"), the usage of electric vehicles is expected to increase from 3.1 million in 2017 to 125 million in 2030. TOTAL, with its innovative fluids, will facilitate smooth running of the engines of the vehicles and benefit from the expected higher volumes of electric vehicles on road.
TOTAL's Role in Lowering Emission
TOTAL has been working actively to lower pollution. It has invested substantially to generate power from cleaner sources. Also, TOTAL has acquired solar solutions provider, SunPower Corporation SPWR .
The company is also producing biofuels, which are a replacement of conventional liquid fuels, on which transportation is still largely dependent.
In the past month, shares of the company have declined 3.6%, narrower than its industry 's decline of 4.3%.
Zacks Rank and Key Picks
TOTAL currently has a Zacks Rank #3 (Hold). Some better-ranked stocks from the same industry are Eni Spa E and Premier Oil PLC PMOIY . While Eni Spa sports a Zacks Rank #1 (Strong Buy), Premier Oil carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for 2018 earnings of Eni Spa and Premier Oil has moved up 8.9% and 34.5%, respectively, in the past 60 days.
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