🌍✨ Hormuz crisis speeds up transition to electric cars, IEA data shows
Why we’re watching: The spiking price of oil helped increase global sales of electric cars in the second quarter of 2026 despite total car sales falling, a new International Energy Agency (IEA) report shows.
The IEA’s latest update on the market for electric cars said sales increased by 4% in the second quarter, after the war between the US, Israel and Iran disrupted oil supplies around the world and caused oil prices to jump at the end of February. 💚
The increase in electric car sales was achieved despite customers buying fewer vehicles in total due to economic problems and, in China, a reduction in government subsidies for cheap cars.
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🔭 What to watch next
- 📌 Key signal: The spiking price of oil helped increase global sales of electric cars in the second quarter of 2026 despite total car sales…
- ✅ Watch for measurable follow-through, not just announcements.
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Reporting curated for GreenTV. Original reporting via Climate Home News.