Iran war oil shock accelerates Southeast Asia’s EV revolution
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Southeast Asia's electric vehicle adoption is accelerating due to fears of rising fuel prices following the US-Israel war on Iran, which began last Sunday. The conflict has disrupted global oil and gas supplies, leading to concerns about fuel availability and cost. In Bangkok, Thailand, Ratchapruek P Car Centre has seen a surge in cash buyers seeking second-hand EVs, with some customers purchasing vehicles immediately due to these concerns. The rising diesel prices are prompting individuals to switch to electric vehicles sooner than planned, as exemplified by one Mercedes owner who purchased an EV on the spot. The disruption in oil supply is the primary driver behind this increased EV demand in the region.
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