Iran war drives Asia EV boost but China slowdown weighs on overall sales

Electric vehiclesSales have doubled in Australia, India, South Korea and Vietnam since start of conflictBYD cars are displayed at the Bangkok International Motor Show in Thailand on March 23. Sales of EVs in Southeast Asia jumped 62% on the year between March and June, led by Thailand, Vietnam and Indonesia, according to the International Energy Agency. (Photo by Ken Kobayashi)SAYAN CHAKRABORTYJuly 30, 2026 14:01 JSTBENGALURU -- Electric vehicle sales have spiked across most of Asia after the U.S.-Iran war drove up fuel prices, according to the International Energy Agency, with growth outpacing Europe. But sales in China, the world's largest EV market, have slumped after Beijing rolled back subsidies.