Exxon Mobil is developing a new battery technology

The world’s largest oil refiner Exxon Mobil is now helping to develop new battery technology for a range of new petrol-electric hybrids and all-electric vehicles.

Using a component it developed for mobile phone batteries, Exxon Mobil is working on improving batteries for use in cars and believes that hybrid vehicles will one day command a large share of the market. Is that a sign that there is not much oil business in the near future?
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