"Electric Vehicles Gain Momentum Amid Global Energy Crisis: China's BYD and Chery Lead the Charge. The ongoing conflict in the Middle East has sent oil prices soaring, sparking a surge in demand for electric vehicles (EVs) globally. Chinese EV manufacturers BYD and Chery are capitalizing on this trend, rapidly expanding their presence in Europe as shipments from the Middle East plummet by 60 percent. As consumers and governments alike seek more sustainable and cost-effective alternatives to fossil fuels, BYD and Chery are poised to capitalize on the growing market, with their European operations set to benefit significantly from the shift towards electric mobility."
Chinese EV makers are capturing surging global demand after oil prices increased from the Iran war. BYD and Chery are expanding rapidly in Europe as Middle East shipments plunged 60 percent.
