Foreign media: Due to the war between the U.S. and Israel driving up oil prices, analysts believe this could be a "game-changer" for the electric vehicle (EV) industry and further boost China's automotive sector. With global oil prices surging by 50% within just one month, demand for electric vehicles may accelerate, especially in regions where oil prices remain high.
Global oil prices broke above $100 per barrel in early March, and the upward pressure on prices is pushing consumers toward electric vehicles. This advantage will be particularly evident in countries that can access affordable Chinese electric vehicles. The performance of Chinese EV giant BYD in Brazil’s market illustrates this trend.
According to a report from the UK-based think tank Ember, 39 countries now have EV sales accounting for over 10% of total car sales—up from just 4% in 2019. Emerging markets are rapidly adopting electric vehicles, with certain nations already surpassing developed economies in EV market share.
Original source: toutiao.com/article/1861277365417034/
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