Middle East war boosts EV demand; US, Europe car-selling platforms see surge in inquiries
The Middle East war, which is now entering its second month, is expected to push drivers towards electric vehicles (EVs), compelling them to ditch their traditional internal combustion engine (ICE) vehicles, CNBC reported.
Citing analysts, the report said the shift would not happen overnight but unfold gradually. This comes after Iran’s Islamic Revolutionary Guard Corps (IRGC) announced the closure of the Strait of Hormuz — a key waterway through which nearly a fifth of the world’s oil and liquefied natural gas (LNG) supplies pass.
