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Mideast war revs up electric car demand in Asia
Vinfast and BYD reported sharp sales gains as drivers rushed to cut fuel costs, while Chinese EV exports doubled in March, CPCA said.
- Crude oil prices soared by around 50 percent since the start of the Middle East war, exceeding $100 per barrel on Monday. Electricity analyst Euan Graham said consumers are responding to the sudden fuel price surge by shifting toward electric vehicles.
- Pham Minh Hai, deputy head of sales at a Vinfast showroom, said more than 50 percent of his clients switched to electric cars last month. Dealerships extended operating hours to manage the surge in customer interest.
- Vinfast, listed on the Nasdaq, saw a 127 per cent surge in annual sales in Vietnam in March, reaching 27,600 cars. Chinese manufacturer BYD secured the most orders at the Bangkok Auto Show, surpassing Japan's Toyota.
- Exports of Chinese electric vehicles doubled in March compared to last year, with Southeast Asia as a major market. Registrations in Japan, South Korea, and New Zealand more than doubled, signaling expanding global demand.
- Manufacturer BYD expects to exceed 1.5 million exported vehicles in 2026, well above its 1.3 million target announced in January. Pharmacist Pleng Nawintham from Thailand cited the unpredictable fuel situation as her primary reason for switching to electric.
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34 Articles
34 Articles
The sale of electric vehicles fired in South-East Asia, with concerned buyers fighting the concessionaires in search of alternatives to avoid high fuel prices, driven by the war in the Middle East. Asian nations were particularly affected by an accentuated decline in the crude oil vessels they depend on – and have few alternatives to replace them.
·Brazil
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Middle East war revs up EV demand as Asia moves away from costly fuel
Electric vehicle sales have jumped in Southeast Asia as cost-conscious buyers have poured into dealerships looking to dodge the fuel price spikes driven by the Middle East war. Crude oil prices have soared by around 50 percent since the start of the Middle East war and again exceeded $100 per barrel on Monday, driving up the cost at the pump.
·India
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Coverage Details
Total News Sources34
Leaning Left4Leaning Right8Center11Last UpdatedBias Distribution48% Center
Bias Distribution
- 48% of the sources are Center
48% Center
L 17%
C 48%
R 35%
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