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  "documentTitle": "Engine No. 1 | Activist Presentation Deck | 83 slides",
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  "presentationDate": "2021-05-01 00:00:00",
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  "notes": "The slide uses a line chart to visually demonstrate that ExxonMobil's projections (highlighted in a red box) are consistently lower than those of IEA, OPEC, BP, and BNEF.",
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      "text": "ExxonMobil Electric Vehicle Estimates vs. Other Observers",
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      "text": "Average battery prices have fallen at an 18% learning rate since 2010. At this rate, an EV would cost the same as an ICE car by 2024, which could lead to peak demand in ICE cars",
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      "text": "ExxonMobil predicts that EV/hybrids will reach 30% of 2040 new passenger car sales, versus BNEF (57% electric/hybrid) and the IEA Sustainable Development Scenario (75% electric). ExxonMobil also estimates a much larger 2040 global car parc of ~1.9 billion, so while the share of internal combustion engines (ICE) falls, forecasted oil decline is limited",
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      "text": "ExxonMobil's EV estimates have trailed IEA, OPEC, BP and BNEF estimates, and have been consistently revised upwards",
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      "kind": "paragraph",
      "text": "Industry shifts regarding EV – including GM's recent EV announcement – present additional long-term risk to ExxonMobil",
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      "kind": "source-note",
      "text": "Source: ExxonMobil's 2019 Outlook for Energy... Bloomberg NEF | Chart Source: Bloomberg NEF report Pathways Emerging: How the World May Decarbonize (Mar 2019)",
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      "text": "ExxonMobil's Position on Electric Vehicles",
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