High oil prices drive a surge in Chinese electric vehicle sales, but charging networks lag behind

High oil prices drive a surge in Chinese electric vehicle sales, but charging networks lag behind The war in Iran has helped reshape the global electric vehicle market, giving Chinese automakers an opening across the developing world as fuel prices surge The war in Iran has helped reshape the global electric vehicle market, giving Chinese automakers an opening across the developing world as soaring fuel prices push drivers towards electric vehicles, even as charging infrastructure lags behind a wave of imports. The blockade of the Strait of Hormuz disrupted shipping of about a fifth of the world’s crude oil and liquified natural gas, first hitting Asia — the main destination for the fuels — followed by Africa. This shock accelerated a trend that was already spreading across the developing world. In April, global exports of Chinese EVs hit a record $9.4 billion, according to an analysis by think tank Ember of Chinese customs data. Shipments surged to countries such as Australia, Brazil and regions like Southeast Asia and East Africa. China exported about 435,000 passenger EVs and plug-in hybrids in May, more than double from a year earlier, according to the Chinese Association of Automobile Manufacturers. As fuel costs rise, more drivers are switching to EVs to save money, while governments from Laos to Ethiopia are embracing electrification to curb oil imports and reduce costs of fuel subsidies. But faster EV adoption is outpacing the expansion of charging networks. Governments and state-owned utilities in Africa are taking a leading role in building them — a model analysts say could help other emerging markets, like Asia, speed the shift away from fossil fuels. When a nation lacks sufficient charging infrastructure and EV fleet size, it is a “classic chicken-and-egg problem” regarding what comes first, said Paul Gong, head of UBS bank’s China automotive industry research. “At that stage, government support for infrastructure could help accelerate adoption,” he said. Fuel shock drives EV use in Asia and Africa Across the developing world, drivers are looking beyond the gas pump. In Southeast Asia, imports of Chinese EVs have surged in Thailand, Laos and the Philippines. In May, Laos banned the import of fuel-powered vehicles for the rest of 2026 to cut oil import costs and encourage the EV shift. Africa imported around 44,000 Chinese EVs in 2025, a 130% jump from the year before, according to Chinese Commerce Ministry data. Across Asia and Africa, transport is one of the largest household expenses. Limited public transit, long commutes and a reliance on private vehicles make families vulnerable to volatile fuel prices. In South Africa, transportation accounts for nearly a fifth of household spending, according to a 2024 study by Stellenbosch University in South Africa's Western Cape province. So, as fuel prices surge, global interest in EVs has been growing, said Mark Wakefield, with the consultancy AlixPartners. One in four new cars sold worldwide last year were electric, according to the International Energy Agency. Global electric car sales are expected to grow further in 2026 and reach 23 million, making up nearly 30% of all cars sold worldwide, according to the IEA’s latest EV outlook. “In the next five years, we will accelerate (our) overseas expansion,” said Jerry Gan, CEO of Geely Auto, one of China's biggest automakers, at a company event in March as the auto group makes inroad into regions like Southeast Asia including selling EVs. Chinese automakers supplied around 60% of electric cars sold globally, the IEA said. They have also been targeting Europe, Africa and Latin America. In Vietnam, automaker VinFast also logged stronger sales. Demand from Southeast Asia helped drive a 42% year-on-year increase in the company's January-March quarterly revenue. On most mornings, Nguyen Thien Bao threads his VinFast electric motorbike through the jammed traffic of Vietnam’s capital Hanoi — ferrying passengers and deliveries. The EV bike has sharply cut his expenses as fuel prices rise. “Before, so much of my income went into fuel,” he said. “Now, I can actually save some money.” Charging stations aren't keeping up But while EV imports are booming, charging infrastructure is still lagging even as installations have accelerated. Thailand, for instance, has around 4,600 public charging locations to serve more than 424,000 battery EVs and plug-in hybrids, according to the Electric Vehicle Association of Thailand — around one for every 92 vehicles. The country currently has roughly 12,000 public chargers, the IEA said. Chitsanupong Nuamnorm's solution is to keep his gasoline-fueled Mazda 2 for weekend trips, although the Chinese-made MG4 EV he bought on Feb. 27 — the day before the Iran war began — is saving him a lot of money. Yutthana Samranwong, a 54-year-old driver in Thailand’s northern Phitsanulok province, says booking online for public charging ports to keep his MG4 EV running is a gamble. “It's a bit of a headache,” said Samranwong, who sometimes works with the Grab ride-hailing and delivery service. In Bangkok, strained charging networks are prompting some drivers to consider returning to fuel-powered cars. In Malaysia, public fast chargers were up more than 70% in 2025, according to the IEA, after the government rolled out incentives to including a tax break for operators of charging points that meet certain investment criteria. Indonesia has more than 4,500 public charging stations set up the state-owned power utility PLN, the IEA said. Ethiopia, which has banned non-EV imports, had only around a dozen charging stations as of mid-2025, and the government estimates it needs more than 1,170 stations to meet rising demand. In the capital Addis Ababa, 40 stations are under construction, according to the state electricity utility. “In developing markets, affordability can accelerate the shift, but the pace of adoption will still depend heavily on infrastructure, power reliability and use case,” said Chris Liu, with the technology research and advisory group Omdia. State utilities take the wheel to build charging stations In Indonesia, more than 4,500 public chargers have been deployed by its state-owned power utility PLN, the IEA said. African countries also are increasingly turning to state-owned utilities to build EV charging networks, betting public investment can solve one of the biggest obstacles to electric vehicle adoption. “Utilities are recognizing that electric mobility will become a meaningful source of future electricity demand,” said Ndia Magadagela, co-founder and CEO of Everlectric, a South African commercial EV leasing company. There are around 2,000 public EV charging stations in Africa, with South Africa accounting for the largest share. State-controlled utility Kenya Power plans to build 44 charging stations within the next year. But building networks of charging stations is difficult in developing markets, according to Omidia's Liu, who said grid connections and maintenance are key issues. While BYD, for example, is expanding its ultrafast EV charging network in places like Europe, large Chinese automakers typically may have relatively little incentive to build networks outside China, he said. State-owned utilities, therefore, can play a larger role in this, according to Liu, since they are closely tied to a country’s grid planning, electricity pricing and distribution capacity. “You need charging infrastructure to support an even larger fleet size,” said Gong, the auto analyst from UBS. ___ Olingo reported from Nairobi, Kenya, and Delgado reported from Bangkok. Associated Press writer Aniruddha Ghosal contributed to this report. ___ The Associated Press’ climate and environmental coverage receives financial support from multiple private foundations. The AP is solely responsible for all content. Find AP’s standards for working with philanthropies, a list of supporters and funded coverage areas at AP.org.

LPG, PNG prices June 22, 2026: Check domestic, commercial cylinder rates in Delhi, Mumbai, Bengaluru, other cities

LPG, PNG Prices Today: The Oil Marketing Companies (OMCs) have not changed the prices of petrol, diesel, domestic and commercial cylinders on Monday amid rising crude oil prices in the global markets due to ongoing tensions in West Asia. The last revision was done for the 14.2 kg cylinders on June 7, which marked the second increase in the domestic cylinders. The OMCs increased the prices of commercial LPG cylinders by over 79 percent during the same period. However, global markets took a sigh of relief after the United States and Iran signed a memorandum of understanding (MoU) to end the war. The Trump administration informed that it had lifted the maritime blockade on all commercial ships entering and exiting Iranian ports, including the strategic Strait of Hormuz. |Cities|| | Price (₹/cylinder) |Delhi||942| |Bengaluru||944.5| |Hyderabad||994| |Mumbai||941.5| |Chennai||957.5| |Kolkata||968| |Cities|| | Price (₹/cylinder) |Delhi||3,113.50| |Bengaluru||3,198| |Hyderabad||3,367| |Mumbai||3,067.50| |Chennai||3,283| |Kolkata||3,255.50| |Cities||Price (₹/SCM)| |Delhi||47.9| |Bengaluru||52| |Hyderabad||51| |Mumbai||50| |Chennai||50| |Kolkata||50| For breaking news and live news updates, like us on Facebook or follow us on Twitter and Instagram. Read more on Latest Business News on India.com.

Maximum in a day: Three Indian-flagged ships safely cross Strait of Hormuz

NEW DELHI: Three Indian-flagged tankers - Desh Vaibhav, Desh Vibhor and Sanmar Herald - carrying 8.6 lakh tonne of crude oil, crossed Strait of Hormuz safely Saturday. This was the highest number of Indian ships to tr-ansit the strategic waterway in a single day since the war in West Asia broke out Feb 28. With this, 18 India-bound ships - 13 Indian and five foreign-flagged - vessels have crossed the route. Shipping minister Sarbananda Sonowal said the three ships have 94 Indian crew members and "govt is working on highest priority to secure India's maritime interests and to guarantee safety of seafarers and energy lifelines". Sanmar Herald was atta-cked by Iran's Islamic Revolutionary Guard Corps on April 18 during its previous attempt to transit the strait after reportedly getting the go ahead. Now it's scheduled to reach Paradip port on July 1, a shipping ministry official said. The ships have sailed through the Strait after the United States officially ended blockade of Iranian ports and Tehran eased restrictions on movements of vessels following the peace deal. Ship tracking portal Marinetraffic shows another two India-bound ships - container carrier SSL Kaveri and crude carrier Desh Suraksha - were waiting around the strait. A total of 31 India-bound ships are still stuck in Persian Gulf, including 16 loaded with fertiliser. Officials said that Desh Vaibhav is scheduled to reach Vadinar in Gujarat on June 24. Desh Vibhor's next port of call is Sikka in Gujarat, where it estimated to arrive on June 24. "We are hopeful of India-bound ships safely transiting the strait. That will bring huge relief to hundreds of our seafarers who have been stuck for over three months," said an official. The movement of ships in the region and the Strait has increased since the two sides announced the peace deal. On Thursday alone, 25 commercial vessels had crossed the reopened Strait of Hormuz, which was the highest number since mid-April.

BizDataDive: How the Strait of Hormuz crisis shook up global markets

The Strait of Hormuz crisis shook up global markets. It witnessed oil prices surging as much as 55%, and saw gold climbing to a record $5,405 per ounce. The United States said on Thursday that it had lifted its maritime blockade on Iran, while Tehran announced measures to reopen the Strait of Hormuz following the signing of a memorandum of understanding (MoU) between the two countries. Click the image to explore what global energy and shipping went through since late February.

Vance says US allows more than dozen ships through to Iranian ports, lifting blockade under deal

WASHINGTON — Vice President JD Vance said Thursday that the U.S. Navy has allowed more than a dozen ships through to Iranian ports, lifting a blockade as part of an agreement to end the war. Vance made the announcement at a White House press briefing, where he said more oil is now flowing through the Strait of Hormuz. The Republican vice president said more than 12.5 million barrels went through the shipping channel Wednesday night. “So we’re also honoring our end of the early part of the agreement on the military side,” Vance said, citing it as an immediate benefit of the deal as he downplayed criticism that the agreement tilts in favor of Iran. And in an extraordinary rebuke, he warned U.S. critics in Israel against “attacking the only powerful ally” it has left. He lashed out at members of the Israeli government, warning them that “Donald J. Trump is the only head of state in the entire world who is sympathetic to the nation of Israel at this moment in time.” Vance said he plans to travel to Switzerland for talks on the Iran deal but he doesn’t know when that will happen. He had been expected to lead talks on implementing the agreement with Iran aimed at diluting its stockpile of highly enriched uranium and restarting oil traffic through the Strait of Hormuz. On Tuesday, two oil tankers left Iran and crossed the U.S. military blockade without being stopped. A merchant shipping tracking website said the ships were carrying a combined total of 3.8 million barrels of Iranian crude oil. Meanwhile, Iranian state media said that shipping has “normalized” at Iran’s southern ports but added that the Strait of Hormuz remains supervised and under the control of the Iranian military and transiting through the vital waterway still requires coordination. Major shipowners have begun moving vessels through the Strait of Hormuz since the agreement was signed, according to maritime data company Lloyd’s List Intelligence — though they did not give data on how many ships have passed through the strait as of Thursday. In a media briefing, Richard Meade, editor in chief of Lloyd’s List, said for the first time in 110 days, ships owned by major companies are transiting the strait after effectively being marooned there since February. Tankers controlled by major ship owners Grimaldi Group, Cosco, Knutsen and NYK have passed through the strait. And two Iran-flagged, National Iranian Tanker Company-owned, sanctioned crude oil tankers have entered the strait, according to Lloyd’s List. Phillip Belcher, marine director of Intertanko, a trade group for global independent tanker owners, said the main central route of the Strait of Hormuz is still closed and has an estimated 80 mines that need to be cleared. But ships have been passing through the smaller Northern route, which goes through Iranian waters, and the Southern route, which goes through Omani waters. The agreement calls for a permanent end to hostilities and starts a 60-day negotiating clock to reach a final deal on the future of Iran’s nuclear program, though Trump left the door open to resume attacks. It appears to offer Iran several benefits up front while extracting little in return. It states that Iran’s stockpile of highly enriched uranium, which is believed to be buried under rubble, must at minimum be diluted under international supervision. It also states that Iran shall not procure or develop nuclear weapons — a commitment it has made previously. But beyond stating that the U.S. and Iran will negotiate over Iran’s nuclear program, other commitments still need to be worked out. Much of the agreement would restore the status quo before the war, including ending hostilities, restarting talks between the U.S. and Iran over Tehran’s nuclear program, and reopening the Strait of Hormuz, the crucial passage for the world’s oil and natural gas whose closure created a historic energy crisis.

Three Saudi oil tankers carrying 6 million barrels cross Strait of Hormuz

- The three Saudi tankers switched their transponders on Thursday after hiding their location for more than two months. - President Donald Trump and Iranian President Masoud Pezeshkian signed a deal Wednesday that is supposed to reopen Hormuz. - At least five Iranian ships have crossed the U.S. blockade line since June 16. Three supertankers from Saudi Arabia loaded with 6 million barrels of oil have crossed the Strait of Hormuz, according to data from the global trade intelligence firm Kpler. The Saudi tankers switched their transponders on Thursday in the Gulf of Oman after hiding their location for more than two months. The crossings come after President Donald Trump and Iranian President Masoud Pezeshkian signed a deal Wednesday that is supposed to reopen Hormuz. Ship traffic through Hormuz, however, has not increased significantly in the hours since the deal was signed. More than 100 ships, dozens of which were tankers, transited the strait daily before the Iran war. "The floodgates haven't opened, there is no mass exodus as yet," said Matt Smith, director of commodity research at Kpler. Shippers still appear hesitant to cross Hormuz, Smith said. The Saudi tankers are very large crude carriers, of VLCCs, that can each carry up to around 2 million barrels of oil. The Shaden is sailing to Kiire, Japan and the Awtad is en route to Ulsan, South Korea, according to Kpler. The Jaham's destination is not clear yet. At least five Iranian ships have crossed the U.S. blockade line since June 16, according to Lloyd's List Intelligence. Three of those vessels were state-owned oil tankers that exited the Gulf of Oman. This is a developing story. Please check back for updates.

First Iranian Oil Moves Past US Blockade Ahead Of Deal Signing

First Iranian Oil Moves Past US Blockade Ahead Of Deal Signing

First Iranian Oil Moves Past US Blockade Ahead Of Deal Signing

First Iranian Oil Moves Past US Blockade Ahead Of Deal Signing

First Iranian Oil Moves Past US Blockade Ahead Of Deal Signing

First Iranian Oil Moves Past US Blockade Ahead Of Deal Signing

First Iranian Oil Moves Past US Blockade Ahead Of Deal Signing

First Iranian Oil Moves Past US Blockade Ahead Of Deal Signing

First Iranian Oil Moves Past US Blockade Ahead Of Deal Signing

First Iranian Oil Moves Past US Blockade Ahead Of Deal Signing

First Iranian Oil Moves Past US Blockade Ahead Of Deal Signing

First Iranian Oil Moves Past US Blockade Ahead Of Deal Signing