Hanoi/Bangkok/Manila — Surging fuel prices triggered by tensions in the Middle East are accelerating a sharp rise in electric vehicle (EV) adoption across Southeast Asia, as cost-conscious consumers shift away from petrol-powered cars.
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The spike in crude oil prices — which have risen by around 50 percent and crossed $100 per barrel — has placed heavy pressure on fuel-importing Asian economies, prompting buyers to seek more economical alternatives.
In Vietnam, local EV manufacturer VinFast has emerged as a major beneficiary of the trend. The company reported a 127 percent surge in annual sales in March, reaching 27,600 units, as demand for electric cars continues to climb.
Consumers say the decision is largely driven by rising living costs. Many households are increasingly factoring in fuel expenses when choosing vehicles, with EVs offering long-term savings and convenience.
Dealerships in Hanoi have reported a noticeable uptick in foot traffic, with some outlets extending operating hours to meet growing demand. Sales representatives noted that more than half of recent buyers had switched from petrol to electric vehicles.
The trend is not limited to Vietnam. Chinese automaker BYD is seeing strong growth across the region, particularly in Bangkok and Manila. At the Bangkok Auto Show, BYD surpassed Toyota in orders for the first time.
Industry players report that rising fuel costs are a key factor behind the shift. Buyers, especially those with high daily travel needs, are increasingly turning to EVs to reduce recurring expenses and avoid long queues at fuel stations.
Dealerships in the Philippines have also reported record demand, with some outlets already selling out monthly inventory due to heightened interest.
Globally, the EV push is being supported by expanding infrastructure, including the rapid installation of charging stations. Governments in the region are also stepping up efforts to promote electric mobility. In Jakarta, authorities recently pledged to accelerate the development of a national EV ecosystem to address high energy consumption.
Meanwhile, exports of Chinese EVs — a key supply source for Southeast Asia — have doubled year-on-year, reflecting the region’s growing importance in the global EV market.
Analysts say the shift toward electric mobility may signal a broader structural change in consumer behavior, driven by economic pressures and evolving energy dynamics.
Beyond Southeast Asia, demand for EVs is also rising sharply in countries such as Japan, South Korea, and India, highlighting a global transition toward cleaner and more cost-efficient transportation solutions.
