China accelerates shift to EVs as fuel prices surge after Iran war
Rising fuel prices linked to disruption caused by the Iran war are accelerating China's shift towards electric vehicles. In Beijing, new EV owner Du Pan
Rising fuel prices linked to disruption caused by the Iran war are accelerating China's shift towards electric vehicles. In Beijing, new EV owner Du Pan says soaring petrol costs pushed him to abandon his fuel-powered car, joining a growing number of Chinese drivers making the switch.
China is already the world's largest electric vehicle market, with more than half of all new car sales now battery-powered. The trend comes as China's crude oil imports have fallen sharply, with analysts suggesting demand could decline permanently as EV adoption increases.
Higher oil prices are also driving efforts to electrify heavy vehicles, with Beijing targeting 40 percent of new truck sales to be electric by 2030. Analysts say a sustained reduction in Chinese oil demand could have significant implications for global energy markets, given China's status as the world's largest crude importer.
Al Jazeera's Katrina Yu reports from Beijing, China. Find us on Check our website Check out our Instagram page Download AJE Mobile App
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