Lubricant Producers Needs Business Transformation

By Editorial Team 13/09/2019
Summary

Automotive supporting industries, such as lubricant producers, are in dire need of transforming their business in fear of losing market shares as electric cars development is outpacing that of the conventional fuel engine vehicles.

The Indonesian Lubricants Society (Maspi) estimated the vehicle lubricant market could see their market share halved if the people have started to shift into electric cars. According to Maspi's calculation, the car consumes an average of four liters of engine lubricant and approximately two liters for other components, yet electric vehicles only require two liters of oil, which are mostly not for electric motor-driven components.

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