Global EV uptake expected to accelerate as Iran war causes worldwide petrol price hikes

Turbulence in the global oil market caused by the war in Iran revealed a quiet shift that could reshape global energy security: the rapid rise of electric vehicles. Global uptake of electric vehicle fleets has led to avoided oil consumption rising to the equivalent of 70 per cent of Iran’s exports in 2025, according to a new report. Last year, EVs worldwide saved 1.7 million barrels of oil consumption per day. During the same timeframe, Iran exported 2.4 million barrels of oil through the Str...

By Xiaofei Xu