According to the International Energy Agency, sales of electric vehicles accelerated in much of Asia after the war between the United States and Iran sharply increased fuel prices, according to Nikkei. From March to June, electric vehicle sales increased 62% year-over-year in Southeast Asia and 101% in the broader Asia-Pacific region, excluding China, with significant increases in Thailand, Vietnam, Indonesia, Australia, South Korea, and India. Sales increased by 33% in Europe over the same period, and by 132% in Latin America.
China was moving in the opposite direction: sales of electric vehicles there fell by 16% due to reduced subsidies and weakening domestic demand.
current automotive news in our telegram channelHigher fuel costs have made electric vehicles more attractive in Asian markets dependent on oil imports, and new emission standards, incentives, and the release of new models are also contributing to their proliferation. The IEA predicts that global sales of electric vehicles will grow by 10% in 2026, accounting for 29% of total car sales.
