Russians Turn to Chinese EVs Amid Fuel Crisis

Escalating Ukrainian attacks on Russian energy infrastructure have triggered a serious fuel crisis in Russia, causing long lines at gas stations and a sharp rise in gasoline prices. The shortage has unexpectedly prompted Russian drivers to switch en masse to electric and hybrid vehicles, particularly those made in China.

Moscow dealers such as EN Cars report a sharp rise in demand. A few weeks ago, they sold two to three electric cars a month. Today, they sell two to three a day.

The development of Russia's electric vehicle market has long been hampered by vast distances, a harsh climate, and a sparse network of charging stations. The ongoing shortage of conventional fuel, however, is changing consumer behavior, benefiting Chinese manufacturers such as Geely, Dongfeng, GAC, and Chery.

In the first five months of the year, sales of plug-in hybrids rose 125% compared with the same period last year, reaching 24,600 units, while sales of pure electric vehicles increased 19%.

The pace of new vehicle registrations accelerated further in June. As Russian drivers seek alternatives to expensive gasoline, interest in converting cars to run on liquefied natural gas has risen 35%. Analysts note, however, that dealers were unprepared for such a sudden surge in demand and are struggling with inventory shortages.

(Reuters, Max)