economy
US interest in electric vehicles surges as gas prices jump amid Iran war
Online searches for electric and hybrid cars increase as war-linked fuel prices hit highest levels in nearly three years
TL;DR
- Gasoline prices in the US have reached their highest level in nearly three years, averaging $3.90 a gallon.
- The price increase is attributed to rising global oil costs following the US bombing of Iran and the closure of the strait of Hormuz.
- Searches for electric car models have increased by 20% since the conflict in Iran began.
- Used EVs are becoming a more attractive and affordable option for consumers.
- Hybrid cars are also expected to see a significant spike in sales.
- The US faces challenges in EV adoption compared to other wealthy countries, including a lack of charging infrastructure and policies that have phased out incentives.
- Automakers are focusing on large SUVs and pick-up trucks, scaling back EV models in the US.
- Globally, EVs represent one in five new car sales, with some countries like Norway nearing the elimination of gas car sales.