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The Economic Times

National / The Economic Times

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Pricier oil adds to Beijing's EV push

As China grapples with the impacts of rising oil prices due to the ongoing conflict in Iran, the country's gasoline demand is projected to decline sharply this year. This shift not only reflects an immediate response to economic pressures but also accelerates the transition to electric vehicles, indicating a progressive move away from traditional petrol-powered cars.

15 May 2026 12:40 am