Rising fuel costs triggered by the Middle East crisis are emerging as an unexpected tailwind for China’s electric vehicle (EV) makers, as consumers increasingly pivot towards battery-powered cars to avoid surging petrol bills.
With Brent crude climbing past the psychologically significant US$100-a-barrel mark – and now trading above US$110 – mainland buyers are turning away from petrol vehicles, according to dealers and analysts.
“It’s a no-brainer for me now,” said Wang Wenbo, a 25-year-old…
Pain at the pump fuels EV rush in China, driving a timely boost for carmakers
