Mideast war supercharges electric car sales: IEA
Soaring fuel prices due to the Mideast war have supercharged sales of electric cars in the second quarter, the International Energy Agency said on July 30.
Electric vehicle (EV) sales jumped 35 percent in the second quarter from the first three months of this year, hitting records in 50 countries, the IEA said in a new report.
"Despite a challenging backdrop for the global car market, sales of electric cars surged in the second quarter of this year as the energy crisis sparked by the war in the Middle East brought fuel price volatility back into sharp focus," it said.
Crude oil prices soared from around $60 a barrel at the start of the year to nearly $120 after Iran effectively closed the Strait of Hormuz through which a fifth of the world's oil normally transits, after Israel and the United States launched attacks in February.
