The Iran energy crisis, now in its eighth week, has caused fuel prices to soar and supplies to dwindle across Southeast Asia. With the Strait of Hormuz closed and regional export bans in place, motorists in Thailand, Vietnam, and the Philippines are facing long petrol queues. This volatility is shifting demand toward electric vehicles, which are increasingly framed as a tool for energy security. At the Bangkok Auto Show in April, China’s BYD outperformed Toyota in orders for the first time, reflecting a broader market pivot toward high-efficiency alternatives.
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Source · Fortune
