business / news / / Reuters
Oil shock of 1973 encouraged car owners to replace gas guzzlers with smaller, fuel-efficient engines.
The recent Middle East conflict caused the largest oil supply disruption in history, per IEA.
KEY POINTS
- BYD and Geely accounted for nearly a quarter of global battery-powered car sales in late 2025.
- The global number of EV chargers has doubled since 2022, easing range anxiety for drivers.
- US carmakers have written off $70 billion in EV investments after demand slowed domestically.
- In China, costs for key EV materials rose 44%, adding about $1,000 per vehicle, UBS estimates.
COMPANIES
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