Exxon Mobil (NYSE:XOM), BP, Royal Dutch Shell (RDS.A, RDS.B) and other oil companies are spending millions of dollars per year working with automakers including Ford (NYSE:F) and Fiat Chrysler (NYSE:FCAU) to improve the internal combustion engine and help it compete with electric vehicles, WSJreports.
The companies are hoping new, thinner lubricants will help squeeze even more efficiency out of traditional car engines, allowing them to comply with stricter environmental rules and remain relevant as new technologies such as zero-emission electric vehicles emerge.