Rising oil uncertainty could boost Chinese EV expansion abroad

Turmoil at the Strait of Hormuz, injecting fresh uncertainty into global oil prices, draws comparisons to the 1970s oil crisis — when rising fuel costs pushed consumers toward more fuel-efficient Japanese cars. This time, analysts say, a similar dynamic could accelerate the global shift to electric vehicles, potentially giving Chinese automakers — already dominant in electric vehicle (EV) production — an edge in overseas markets, including Korea. According to data from MarkLines, a Japanese company specializing in automotive industry data and analysis, cited by Chinese brokerage Citic Securities, Japanese carmakers’ share of the U.S. market rose to 20 percent in 1980 from just 4 percent in 1972. As Chinese new energy vehicle makers expand into the global market, many are positioning themselves to challenge the long-standing dominance of Japanese brands by offering lower running costs and strong price competitiveness. Advances in technologies such as BYD’s DM-i 5.0 hybrid system have already made Chinese models more cost-competitive than their Japanese counterparts, according t

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