- The Middle East energy crisis is reshaping electric vehicle (EV) demand, with UBS reporting that a blockade in the Strait of Hormuz has disrupted about 12% of global oil supply.
- To fully counter this supply gap, approximately 770 million fuel vehicles would need to be transitioned to EVs, highlighting a potential structural demand increase amidst high oil prices.
- Despite peaks in consumer interest for EVs, actual sales remain tepid, with the global EV demand growth projected at 9% for 2026, significantly lower than previous years, indicating a disconnect between market sentiment and sales performance.
