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Electric-vehicle maker Polestar told CNBC Thursday that "range anxiety" has been replaced by "pump anxiety," amid worries around a Middle East crisis that has global energy prices soaring.
"People are concerned, 'how much do I pay at the gas station?'" Polestar CEO Michael Lohscheller told CNBC's "Squawk Box Europe."
The company is seeing increased demand for both used and new EVs as fuel prices have risen following the disruption at the Strait of Hormuz, a narrow waterway that normally carries around a fifth of the world's oil supply.
"In the past, people considered EVs for idealistic reasons, and now the decision is all about money," Lohscheller said.
