Oil prices skyrocketed due to the US-Israel war targeting Iran that could accelerate the global application of electric vehicles - the field that helped China surpass Japan to become the world's largest car seller last year.
Closing the Strait of Hormuz could be a turning point for electric vehicles," said David Brown, Director of Energy Transition Research at Wood Mackenzie.
He said that the dizzying increase in global oil prices since the beginning of the month will further encourage consumers to switch to electric vehicles.
In countries that have access to cheap electric vehicles from China, the competitive advantage over gasoline engine vehicles will appear sooner," Mr. Brown said, while noting that Brazil has become the largest foreign market for electric vehicle giant BYD (China).
Mr. Justin Feng, Asian regional economist at HSBC, also emphasized this trend. He believes that high oil prices and many fluctuations could turn electric vehicles into a clearer "cost-saving solution" if the conflict lasts, thereby accelerating the electrification of road traffic in Asia.
A report by the consulting organization Ember (UK) just released shows that currently 39 countries record electric vehicles accounting for more than 10% of total car sales, an increase compared to 4 countries in 2019.
The report added that emerging markets are applying electric vehicles at a rapid pace, in which some countries have now surpassed developed economies in terms of electric vehicle sales proportion.
The global electric vehicle breakthrough has a large contribution from China, which witnessed a booming growth momentum in the 2023-2025 period. Domestic electric vehicle sales in China in 2025 are estimated to exceed 12 million units, an increase of about 20% compared to 2024.
As a result, electric vehicles accounted for nearly 50% of the total car consumption in this country, directly narrowing the market share of internal combustion engine vehicles.
Not only dominating domestically, Chinese automakers are also strongly developing internationally. Despite new tariff barriers from the US and Europe, China's electric vehicle export turnover in 2025 still reached nearly 70 billion USD, present in more than 150 countries.
In Vietnam, the electric car market has also recorded a record increase, making Vietnam one of the bright spots in electric vehicle transformation globally.
According to a report by Ember organization, the proportion of electric vehicles sold in Vietnam in 2025 reached 38% of total new car sales, exceeding the average of the European Union (26%) and the US (10%).
The domestic car brand VinFast is holding an absolutely overwhelming position in the Vietnamese market. In 2024, VinFast sold more than 87,000 cars in Vietnam. Stepping into 2025, sales continued to skyrocket. In 2025, the company sold 175.099 cars, double that of 2024.
According to statistical data, global electric vehicle sales in 2025 set a record with more than 20.7 million units delivered to customers. The strong boom has pushed the penetration rate of electric vehicles to 25% of the total global new car market size.
