Big Oil faces a tiny foe on the streets of Asia and Africa. The noisy, noxious vehicles that run on two and three wheels, carrying billions of people daily, are quietly going electric — in turn knocking down oil demand by 1 million barrels a day this year.
In Kenya and Rwanda, dozens of startups are vying to replace oil-guzzling motorcycle taxis with battery-powered ones. In India, more than half of all new three-wheeled vehicles sold and registered this year were battery-operated. Indonesia and Thailand are also encouraging electrification of motorcycle taxis.
