🔋 🚗 📈 Nicolas Fulghum on X:
EV Adoption is booming around the world
The Hormuz crisis once again revealed the risks of an energy system reliant on fossil fuels and countries are taking notice.
Growing EV fleets have saved oil importers more than $20 billion since the start of the war.
Several markets saw a rapid acceleration in the adoption of fully electric vehicles (BEVs) following the closure of the Strait of Hormuz in March.
For instance, Australia's BEV sales jumped 136% compared with the previous six months.
EVs offer oil importers a new route to energy security.
Denmarks booming EV fleet already displaces the equivalent of 14% of the country's national oil consumption.
EVs saved China over $14 billion in crude oil imports in the six months since the Iran war began.
Surprisingly absent from the trend? The United States.
An early EV leader, US BEV share has dropped in recent months after the EV tax credit expired.
It is now being overtaken by countries like India and Brazil, with Japan not far behind.
Of the 56 countries we are tracking at Ember, 49 have overtaken the US on electric car adoption.
https://ember-energy.org/data/ev-sales-tracker/?entity=China
https://ember-energy.org/latest-insights/electric-energy-security-how-evs-are-reducing-oil-import-vulnerabilities/
📎 Nicolas Fulghum
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/CIG/ Telegram | Counter Intelligence Global 📖 🇮🇷🛢 Hormuz is the largest energy supply shock on record, says McKinsey At its peak, the Strait of Hormuz disruption took 14% of global oil and gas supply off the market. That is more than double the 1970s oil shocks in relative terms, and more than six…
