As the Iran war escalates, the global energy landscape is shifting dramatically. Countries grappling with soaring fuel prices are increasingly looking to electric vehicles (EVs) and renewable technologies as viable alternatives. This trend is particularly beneficial for China, which is leveraging the crisis to expand its clean technology exports, including EVs and batteries, to markets that are desperate for energy security.
Recent data shows that global demand for electric vehicles rose for the second consecutive month, with registrations hitting 1.6 million in April, a 6% increase year-on-year. This uptick is largely driven by high petrol prices, which are steering consumers away from traditional combustion-engine vehicles. As nations seek to reduce their reliance on costly fossil fuels, the appetite for EVs is only expected to grow.
China's clean tech firms are capitalizing on this momentum. Major players like Jinko Solar Co. are forging partnerships in regions like Africa, where energy costs have surged due to the conflict. Analysts suggest that this pivot to renewables not only addresses immediate energy needs but also positions China as a leader in the global clean technology market, further solidifying its influence.
